6D Global Technologies, Inc. Closes $10 Million Equity Financing With Mutual Fund Investor
NEW YORK, Aug. 17, 2015 (GLOBE NEWSWIRE) -- 6D Global Technologies, Inc. (NASDAQ:SIXD), a premier digital business solutions company listed on NASDAQ under stock symbol "SIXD," today announced it has completed a $10 million equity financing through the issuance of unregistered Series A Preferred Stock to a mutual fund institutional investor.
The Series A Redeemable Convertible Preferred Stock of the Company, par value $0.00001 per share are convertible into shares of the Company's common stock, at a fixed conversion price of $5.25 per share, at a purchase price of $10,000 per share with an 8% original issue discount, for total gross proceeds of $10.0 million, or the sale of approximately $10.88 million worth of shares. Complete details on the equity financing are available through an 8-K filing made by the Company with the Securities and Exchange Commission on August 14, 2015.
The institutional financing will be used to complete strategic acquisitions, allow for global expansion, increase sales and marketing efforts, and for general corporate purposes, including working capital to foster the Company's continued growth.
"We are very pleased with the strong support the Company has received in completing this equity financing," said Tejune Kang, CEO of 6D Global Technologies, Inc. "We believe the infusion of capital enables 6D Global to expand its product offerings through further synergistic acquisitions and create new services and software products, providing a complete end-to-end digital marketing solution for our customers. We plan to continue to deliver results and anticipate another quarter of continued growth."
About 6D Global Technologies, Inc.
6D Global Technologies, Inc. is a NASDAQ listed (stock symbol: SIXD) premier digital business solutions company serving the digital marketing and technology needs of enterprise-class organizations worldwide. 6D Global's common stock is included in four Russell Indexes including the Russell 2000®, Russell 3000®, Russell Global and Russell Microcap® Index. 6D Global Technologies' companies offer a full suite of services and solutions to help large organizations optimize digital business channels and create better experiences for their customers, resulting in increased revenue growth and market share. Services include web content management, web and marketing analytics, digital creative, marketing automation, mobile applications, digital publishing, marketing management, and business intelligence solutions. For more information, visit www.6DGlobal.com.
Forward Looking Statements
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. This press release includes forward-looking statements that are subject to numerous assumptions and a number of risks and uncertainties that could cause actual results or facts to differ materially from such statements for a variety of reasons including, but not limited to: industry conditions, changes in services, pricing and customer demand, competition, other vagaries in the global technology and marketing consulting markets, changes in relationships with key partners, risks related to the integration of acquired businesses, change in legal and regulatory matters, the company's ability to generate additional cash flow and the other risks described from time to time in the company's reports to the Securities and Exchange Commission (including the company's Form 10-K and Quarterly Reports on Form 10-Q). Forward-looking statements are those statements, which are not statements of historical fact. These forward-looking statements can be identified by forward-looking words such as "expects," "anticipates," "intends," "plans," "may," "will," "believes," "seeks," "estimates," and similar expressions. Shareholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The company undertakes no obligation to update publicly or revise any of the forward-looking statements.
Released August 17, 2015