VRME - VerifyMe announces $5M private placement priced at-the-market

VerifyMe (NASDAQ:VRME) on Tuesday announced a ~$5M private placement of its stock and warrants priced at-the-market. Each share will be sold with an accompanying warrant at a combined effective purchase price of $3.215. VRME will sell ~1.6M shares and warrants to purchase up to ~1.6M shares. The warrants will be exercisable for 5 years starting 6 months from the date of issue, with an exercise price of $3.215/share. Certain officers and directors intend to purchase up to 93.3K shares and 93.3K warrants in this offering. The private placement is expected to close on Apr. 14.

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VerifyMe announces $5M private placement priced at-the-market