Plus   Neg

Rainmaker Announces $5.8 Mln Direct Stock Offering

Rainmaker Systems, Inc. (RMKR) said Monday that it has entered into subscription agreements with members of its Board of Directors and various other investors for the sale of an aggregate of about 12.98 million shares of the company's common stock in an issuer directed, registered direct offering.

The shares were priced at $0.45, the consolidated closing bid price on the NASDAQ Capital Market on March 28, for gross proceeds to the company of about $5.8 million.

The offering is expected to close on or about April 3.

The company plans to use the proceeds from this offering for general corporate purposes, including working capital and capital expenditures.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Qualcomm Inc.'s former Chairman Paul Jacobs plans to acquire the chipmaker founded by his father and has approached several global investors in an effort to fund the buyout, the Financial Times reported. According to the report, Jacobs informed members of the Qualcomm board about his intention to take the company private. Qualcomm has a market capitalization of $90 billion. Tiffany & Co. (TIF) reported fourth-quarter net earnings of $62 million, or $0.50 per diluted share, which were 61% below the prior year's $158 million, or $1.26 per diluted share. The company recorded tax-related charges in the fourth quarter of 2017 and certain impairment charges in last year's fourth... BlackBerry has extended the term of its Chief Executive Officer and Executive Chairman John Chen through 2023. He has been heading the company for the last five years. Chen joined BlackBerry when the smartphone pioneer was going through a troubled time. He was focused on overhauling with a special focus on diversification. BlackBerry, the former leader in the smartphone space, is now into auto m
comments powered by Disqus
Follow RTT