One Stop Systems Raised $2.5 Million
90% of funds through block sales to long-term investors
This is a Press Release edited by StorageNewsletter.com on August 28, 2019 at 2:33 pmOne Stop Systems, Inc. has closed out its at-the-market (ATM) equity offering program after raising net proceeds of $2.5 million.
“We are pleased to have completed our equity raise which further strengthens the cash position on our balance sheet,” said Steve Cooper, president and CEO. “We met our funding target and raised funds in a manner intended to minimize any impact on our stock price. Over 90% of the funds were raised through block sales to long-term investors. These include investors who receive tax incentives if they hold the stock long-term and another long-term investor. Now with the raise complete, we have terminated the Afacility.”
As previously announced, $1.73 million worth of the shares issued under the offering were acquired by a group of individuals who invested pursuant to Internal Revenue Code (IRC) Section 1202 that provides a tax incentive for taxpayers to invest in small businesses. The underlying purpose of Section 1202 allows for a capital gains exemption from federal income tax on the sale of small business stock that is held for at least 5 years.
Read also:
Public Sale of $1.73 Million in Common Stock by One Stop Systems
By group of individuals pursuant to Internal Revenue Code Section 1202
July 3, 2019 | Press Release
One Stop Systems Announces At-The-Market Equity Offering Program
To issue and sell up to aggregate of $10 million of common stock
June 28, 2019 | Press Release
One Stop Systems Closing IPO
3,800,000 shares of common stock at public offering price of $5 per share
February 6, 2018 | Press Release
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