logo
Share SHARE
FONT-SIZE 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
Sergey Brin, Google's co-founder, is said to be secretly building a massive airship inside Hangar 2 at the NASA Ames Research Center, Bloomberg reported, citing people with knowledge of the project. As per the report, the craft looks like a zeppelin-like airship, and its not clear whether its a hobby... Boeing Co. (BA) reported a profit for the first-quarter 2017 that increased about 19 percent from last year driven by solid execution on production programs and services. But, quarterly revenues decreased 7.3 percent to $21.0 billion, reflecting the timing of commercial and defense aircraft deliveries. The company raised its 2017 profit guidance. But it maintained its annual revenue guidance. Ride-sharing company Uber Technologies Inc. is partnering with aircraft manufacturers to develop an on-demand network of vertical takeoff and landing vehicles. Uber plans to roll out flying cars with a pilot in the Dallas-Fort Worth area by 2020 and flights in Dubai at Expo2020, Chief Product Officer...
comments powered by Disqus
Follow RTT