SeeThruEquity Issues Update Note on COPsync Highlighting Uplisting to NASDAQ
December 14, 2015
COPsync, Inc. (NASDAQ: COYN) operates the largest law enforcement mobile data information system and interoperability network in the U.S. and sells a unique real-time threat alert system for schools and other at-risk facilities that connects facilities under threat to the nearest law enforcement patrol units and the local dispatch center in seconds.
"We were impressed to see that COPsync completed a $10.6mn equity financing on November 12, 2015. In our view, the equity raise is a key milestone and significant strategic accomplishment by the COPsync management team, as it helped the company uplist to the NASDAQ, solidifies COPsync's balance sheet and fully funds its 2015 and 2016 growth plans. Maxim Group LLC and Aegis Capital Corp acted as co-book runners for the raise, which consisted of 3,028,572 common units, with each unit including one shares priced at $3.49, and one warrant priced at $0.01. The warrants have a five year term and a per share exercise price of $3.125," commented Ajay Tandon, CEO of SeeThruEquity. "We are updating our price target of $8.73 per share."
