Vertical Data closes $4.24 million private placement of common stock
VDTA•Vertical Data closed a private placement of 1,413,640 common shares at $3 per share, raising approximately $4.24 million. Insiders invested about $1 million, and the company is pursuing an uplisting to a major stock exchange.
1. Placement details
Vertical Data closed a private placement of 1,413,640 common shares at $3 per share, raising approximately $4.24 million. Insiders invested approximately $1 million, about 24% of the proceeds, including $500,000 from Chairman and CEO Deven Soni.
2. Advisers and registration
B. Riley Securities served as placement agent and invested $1 million, while Goldman Sachs acted as financial advisor. The unregistered shares require the company to file a resale registration statement with the SEC within 30 days of closing. Vertical Data is pursuing an uplisting to a major stock exchange.
