Lee, MA
June 12, 2014

Wave Systems Corp. (NASDAQ:WAVX) today announced that it is selling to investors 5,225,560 shares of its common stock at a price of $1.90 per share.  Investors in the offering will also receive five-year warrants to purchase an aggregate of 2,090,224 shares of Wave’s Class A common stock for $1.90 per share.  The offering is expected to close on or about June 17, 2014, subject to the satisfaction of customary closing conditions.

The total gross proceeds of the offering are $9,928,564. Wave currently intends to use the net proceeds from this offering for working capital and general corporate purposes.

Craig-Hallum Capital Group LLC acted as the exclusive placement agent for the offering.

A shelf registration statement relating to these securities was declared effective by the Securities and Exchange Commission on September 12, 2013. The securities may be offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. Copies of the final prospectus supplement and accompanying base prospectus related to this offering, when available, may be obtained from the Securities and Exchange Commission’s website at http://www.sec.gov or by contacting Craig-Hallum Capital Group LLC, 222 South Ninth Street, Minneapolis, MN 55402, by calling 612-334-6300.

This press release does not constitute an offer to sell or the solicitation of offers to buy any securities of the company, and shall not constitute an offer, solicitation or sale of any security in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

For more information please contact:

Wave Contact:
Walter A. Shephard, CFO
Wave Systems Corp.
413-243-1600
investors@wave.com

 

Investor Relations:
David Collins, Eric Lentini
Catalyst Global LLC
212-924-9800 office / 917-734-0339 mobile
wavx@catalyst-ir.com