NEW YORK, Feb. 24, 2016 /PRNewswire/ -- root9B Technologies (OTCQB: RTNB), a leading provider of Cybersecurity and Regulatory Risk Mitigation Services, announced today it has received gross proceeds of $1,256,782 in connection with the Company's offer to amend and exercise warrants. The Company plans to use the net proceeds from the offering to support the Company's future operations and capital requirements.
In connection with the offering, warrant holders elected to exercise a total of 1,142,529 of their $1.125 warrants at a reduced exercise price of $1.10 per share, providing a total of $1,256,782 in gross proceeds to the Company. The Company issued new warrants to the participants to purchase 285,654 shares of common stock with a term of five (5) years and have an exercise price per share equal to $1.50.
Maxim Group, LLC was the warrant agent for the transaction.
This release does not constitute an offer to sell or the solicitation of an offer to buy any securities.
About root9B Technologies, Inc.
root9B Technologies (OTCQB: RTNB) is a leading provider of Cybersecurity and Regulatory Risk Mitigation Services. Through its wholly owned subsidiaries root9B and IPSA International, root9B Technologies delivers results that improve productivity, mitigate risk and maximize profits. Its clients range in size from Fortune 100 companies to mid-sized and owner-managed businesses across a broad range of industries including local, state and government agencies. For more information, visit www.root9btechnologies.com.
SOURCE root9B Technologies