Dataram raises $503,000 from Series D Preferred Stock for global expansion

Dataram Corporation (DRAM) has announced that on August 3, 2016, it executed definitive purchase agreements with certain accredited investors, pursuant to which the company agreed to sell 3,699 shares of its Series D Preferred Stock (the “Series D Stock”) at a price of $136.00 per share.  Each share of Series D Preferred Stock is convertible into 100 shares of common stock at a conversion price of $1.36 per share.  The shares were priced based on market close on August 2, 2016.  The company closed on the sale of the Series D Preferred Stock on August 4, 2016 with gross proceeds to the company of approximately $503,000.

The Series D Stock is convertible into common shares at the ratio of 100 common shares for every Series D share.  The shares are eligible for a special one-time dividend.  No warrants were issued as part of the transaction...Read More

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