Careview Communications, Inc. (OTCBB:CRVW) announced a private placement of 6,220,000 shares at $0.495 per share for gross proceeds of $3,078,900 on March 27, 2013. The company will issue 2,500,000 warrants in the transaction. Each warrant entitles the holder to purchase one common share of the company at $0.60 per share for five years in April 2018. The round will include participation from all eligible members of the board of directors of the company, with the exception ... of Jeffrey Lightcap, for $173,250 and accredited investors. The members of the board of directors will not subscribe to the warrants to be issued in the transaction. No purchaser shall be entitled to purchase warrants in a ratio greater than 0.5 to 1 of warrants to shares. The purchasers will subscribe up to a maximum of $3,078,900 of common stock and $25,000 of warrants to purchase common stock of the company. Ladenburg Thalmann & Co. Inc. will act as the exclusive placement agent, BDO USA, LLP will act as accountant, and William C. Hicks of Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, PC will act as legal advisor to the company. Greenberg Traurig, LLP will act as legal advisor to certain purchasers. Goodwin Procter LLP will act as legal advisor for the transaction. The estimated net proceeds from the transaction will be approximately $2,856,400 after paying $200,000 as estimated fees to Ladenburg Thalmann & Co. Inc. and $47,500 for expenses for Ladenburg Thalmann & Co. Inc. and legal counsel for investors. The transaction is expected to close by April 1, 2013.
Read More

Sponsored Financial Commentaries

To contact CAREVIEW COMMUNICATIONS INC, please visit . Company data is provided by Capital IQ. Please use this form to report any data issues.

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.