Lee, MA
June 17, 2014

Wave Systems Corp. (NASDAQ:WAVX) today announced the closing of its previously announced $9.9 million placement of common stock and warrants to a group of institutional investors. With the placement’s completion, Wave’s At-The-Market (ATM) share issuance program has effectively ended.

Wave’s equity placement consisted of 5,225,560 shares of common stock priced $1.90 per share. Investors in the placement also received warrants to purchase up to 2,090,224 shares of Wave common stock for $1.90 per share. Gross offering proceeds were $9,928,564.

“One of my primary goals as CEO has been to put in place sufficient funding to execute our plans for Wave,” said Wave CEO Bill Solms. “This placement puts Wave in a stronger position to advance our objectives and support efforts to expand our enterprise business.”

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

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:

Company:
Walter A. Shephard, CFO
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