INTEGRATED SECURITY SYSTEMS CARRIES OUT $1.8M STOCK PLACEMENT, ELECTS DIRECTORS AT MEETING
At its annual shareholders meeting, Integrated Security Systems Inc. announced that it has obtained commitments for a private placement of convertible preferred stock and warrants totaling $1.855 million. The preferred shares were priced at $20 per share and are convertible to common shares at 80 cents per share.
“The majority of funds from the private placement will be used to increase our market penetration of the Intelli-Site NT software security integration platform from our Intelli-Site Inc. subsidiary and the railroad safety barrier gate from our B&B Electromatic Inc. subsidiary,” says Gerald K. Beckmann, president and CEO of Integrated Security. The company also announced that its shareholders elected all company-nominated directors and passed two additional proxy propositions.
Integrated Security Systems is a high technology company that designs, develops and markets security software to the commercial, industrial and governmental markets.
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