DSS - Document Security Systems secures $43.5M capital via equity raise

Document Security Systems (DSS) has priced its public offering of 29M common shares at $1.50/share for expected gross proceeds of ~$43.5M.Net proceeds will be used to fund the development and growth of new business lines, acquisition opportunities, and general corporate and working capital needs. Underwriters' over-allotment is an additional 15% of shares.Aegis Capital is acting as sole bookrunner for the offering.Shares down 18.5% after-hours. Yesterday's close was $2.76.Last month, DSS acquired 24.9% stake in Sentinel Brokers, with further option to to acquire an additional 50.1% of Sentinel.

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Document Security Systems secures $43.5M capital via equity raise