Dataram to Raise $3.3 Million

Dataram Corporation has entered into a definitive agreement to sell $3.3 million of its common stock and warrants to institutional investors in a registered direct offering.

Under the terms of the purchase agreement, Dataram will sell 1,775,000 shares of its common stock at $1.88 per share, and warrants to purchase up to an aggregate of 1,331,250 shares of common stock at an exercise price of $2.26 per share. The warrants will be exercisable beginning six months from closing date of the offering and will expire five years from the date they first become exercisable. Dataram will receive approximately $3.0 million in net proceeds from the offering. The offering is expected to close on or about May 17, 2011, subject to customary closing conditions.

Aegis Capital Corp. acted as the exclusive placement agent for the offering.

Net proceeds from the offering will be used to meet working capital needs and for general corporate purposes.