PROSPECTUS
12,593,880 Shares
WAVE SYSTEMS CORP.
Class A Common Stock
Silver Oak Investments, Inc.(1) 914,334 (2) 1,118,422 (3) 0
RHP Master Fund, Ltd.(4) 457,117 (5) 559,212 (3) 0
Alpha Capital AG(6) 1,371,551 (7) 1,677,634 (3) 0
Ellis Enterprises(8) 365,733 (9) 447,369 (3) 0
North Sound Legacy International Ltd.(10) 274,250 (11) 335,528 (3) 0
North Sound Legacy Institutional Fund LLC(10) 274,250 (12) 335,528 (3) 0
MRT, LP(13) 182,866 (14) 223,685 (3) 0
OTAPE LLC(15) 457,117 (16) 559,212 (3) 0
CD Investment Partners, Ltd.(17) 237,736 (18) 290,791 (3) 0
Vertical Ventures Investments, LLC(19) 868,592 (20) 1,062,500 (3) 0
Norbert Olinger 45,641 (21) 55,922 (3) 0
National Fin. Services LLC, Phil Clark IRA R/O(22) 91,433 (23) 111,843 (3) 0
Alan Weiss 45,641 (24) 55,922 (3) 0
Stuart Jacobson 45,641 (25) 55,922 (3) 0
Judith Ellen Olinger Rev. Trust(26) 45,641 (27) 55,922 (3) 0
Helen Jones Marital Trust(28) 45,641 (29) 55,922 (3) 0
Jerden Enterprises, Inc.(30) 182,866 (31) 223,685 (3) 0
James K. & Danna H. Lehman 22,770 (32) 27,962 (3) 0
Oscar Garza and Sheryl Bilas 22,770 (33) 27,962 (3) 0
Martin & Linda B. Mennes 54,770 (34) 67,106 (3) 0
Jules Nordlicht 924,334 (35) 1,118,422 (3) 10,000
Arosa Investment Ltd.(36) 1,830,435 (37) 2,236,843 (3) 0
Falcon Point Associates(38) 702,817 (39) 559,212 (3) 245,700
Winslow Hedge Fund, LP(40) 457,117 (41) 559,212 (3) 0
Platinum Partners Value Arbitrage Fund(42) 182,866 (43) 223,685 (3) 0
James L. Melcher 45,641 (44) 55,922 (3) 0
Melcher Family Trust(45) 45,641 (46) 55,922 (3) 0
Balestra Capital Partners, LP(47) 91,433 (48) 111,843 (3) 0
Jason Adelman(49) 112,880 112,880 0
Eric Singer(50) 154,539 154,539 0
Steve Markovich(51) 2,500 2,500 0
Robert Nathan(52) 13,857 13,857 0
Matthew Balk(53) 31,224 31,224
Kimball & Cross Investment Management Corp.(54) 888 888 0
Brian Herman(55) 888 888 0
Chris Shufeldt(56) 887 887 0
Hudson Valley Capital Management(57) 7,107 7,107 0
