Document Security Files 8K - Asset Acquisition Or Disposition >DSS
5:16 pm ET December 27, 2019 (Dow Jones)
Document Security Systems Inc. (DSS) filed a Form 8K - Acquisition or Disposition of Assets - with the U.S Securities and Exchange Commission on December 19, 2019.
As previously reported on a Current Report on Form 8-K filed with the Securities and Exchange Commission (the "SEC"
on September 15, 2017, Document Security Systems, Inc. (the "Company" entered into a securities purchase agreement whereby the Company issued and sold 683,000 shares of the Company's common stock in exchange for 21,196,552 ordinary shares of Singapore eDevelopment Limited ("SED" , a company incorporated in Singapore and publicly listed on the Singapore Exchange Limited, and an existing three-year warrant to purchase up to 105,982,759 ordinary shares of SED at an exercise price of SGD $0.040 per share. On December 19, 2019, the Company exercised the warrant, in part, pursuant to which the Company acquired 61,977,577 ordinary shares of SED. The total consideration paid by the Company for these ordinary shares was SGD$2,479,103.08, or approximately $1,833,000 USD. A lock-up provision that precluded either party from selling the stock that each had acquired pursuant to the agreement expired on September 12, 2019.
After giving effect to the warrant exercise, the Company now owns 83,174,129 ordinary shares of SED, representing approximately 7.1% of the outstanding shares of SED, and the remaining warrant to purchase 44,005,182 ordinary shares of SED.
The Chairman of the Company, Mr. Heng Fai Ambrose Chan, is the Executive Director and Chief Executive Officer of SED.
The full text of this SEC filing can be retrieved at: http://www.sec.gov/Archives/edgar/data/771999...orm8-k.htm
Any exhibits and associated documents for this SEC filing can be retrieved at: https://www.sec.gov/Archives/edgar/data/77199...-index.htm
Public companies must file a Form 8-K, or current report, with the SEC generally within four days of any event that could materially affect a company's financial position or the value of its shares.
(END) Dow Jones Newswires
December 27, 2019 17:16 ET (22:16 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
5:16 pm ET December 27, 2019 (Dow Jones)
Document Security Systems Inc. (DSS) filed a Form 8K - Acquisition or Disposition of Assets - with the U.S Securities and Exchange Commission on December 19, 2019.
As previously reported on a Current Report on Form 8-K filed with the Securities and Exchange Commission (the "SEC"
on September 15, 2017, Document Security Systems, Inc. (the "Company" entered into a securities purchase agreement whereby the Company issued and sold 683,000 shares of the Company's common stock in exchange for 21,196,552 ordinary shares of Singapore eDevelopment Limited ("SED" , a company incorporated in Singapore and publicly listed on the Singapore Exchange Limited, and an existing three-year warrant to purchase up to 105,982,759 ordinary shares of SED at an exercise price of SGD $0.040 per share. On December 19, 2019, the Company exercised the warrant, in part, pursuant to which the Company acquired 61,977,577 ordinary shares of SED. The total consideration paid by the Company for these ordinary shares was SGD$2,479,103.08, or approximately $1,833,000 USD. A lock-up provision that precluded either party from selling the stock that each had acquired pursuant to the agreement expired on September 12, 2019. After giving effect to the warrant exercise, the Company now owns 83,174,129 ordinary shares of SED, representing approximately 7.1% of the outstanding shares of SED, and the remaining warrant to purchase 44,005,182 ordinary shares of SED.
The Chairman of the Company, Mr. Heng Fai Ambrose Chan, is the Executive Director and Chief Executive Officer of SED.
The full text of this SEC filing can be retrieved at: http://www.sec.gov/Archives/edgar/data/771999...orm8-k.htm
Any exhibits and associated documents for this SEC filing can be retrieved at: https://www.sec.gov/Archives/edgar/data/77199...-index.htm
Public companies must file a Form 8-K, or current report, with the SEC generally within four days of any event that could materially affect a company's financial position or the value of its shares.
(END) Dow Jones Newswires
December 27, 2019 17:16 ET (22:16 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
