FalconStor Announces Pricing of Public Offering of Common Stock

FalconStor Software, Inc. announced the pricing of an underwritten registered public offering of 725,000 newly issued shares of its common stock at a public offering price of $4.10 per share, for total gross proceeds of $2,972,500.

It has also granted the underwriter of the offering a 30-day option to purchase up to 108,750 shares of common stock in the offering. The offering is expected to close on or about June 23, 2021, subject to the satisfaction of customary closing conditions.

The company intends to use the net proceeds from the offering to expand marketing and distribution of its software products and supporting technology in USA and abroad, to enhance its ongoing product development programs, to finance potential acquisitions of complementary businesses, and for working capital and general corporate purposes.

Roth Capital Partners LLC is acting as the sole manager for the offering.