Collexis Completes $2.2 Million Private Placement

Jan 04, 2008

Collexis, a developer of high definition search and knowledge discovery software, announced that it has completed a $2.2 million private placement of restricted common stock at $0.75 per share, representing a premium to the price of the company's stock. The company sold 2,944,000 shares of common stock, receiving gross proceeds from the offering of approximately $2,208,000. Proceeds from the private placement were utilized to make the first installment payment on the acquisition of SyynX Solutions GmbH ("SyynX"), a privately held software company based in Cologne, Germany. SyynX has been the company's long-time software development partner. Under the terms of the acquisition, the company has agreed to pay the sellers in four installments.