FALCONSTOR SOFTWARE, INC. (NASDAQ:FALC) Files An 8-K Unregistered Sales of Equity Securities
Item 3.02 Unrestricted Sale of Equity Securities.
On December 6, 2018, the Company issued 8,699,899 shares (the “Shares”) of Common Stock, $.001 par value. The Shares were issued to the exercise by an investor of Warrants which were granted in connection with the final-tranche of the Company’s Private Placement which closed in October 2018. The investor exercised the Warrants through a cash payment of $.001 per Share.
The Shares issued by the Company were issued to the exemption contained in Section 4(2) of the Securities Act of 1933, as amended.
About FALCONSTOR SOFTWARE, INC. (NASDAQ:FALC)
FalconStor Software, Inc. is a Software-Defined Storage (SDS) company offering a converged data services software platform. The Company’s platform FreeStor, allows information technology (IT) organizations minimize and eliminate that complexity with the delivery of migration, continuity, protection, recovery and optimization for any storage environment through a management interface for a price based on managed capacity across arrays, servers, hypervisors, data centers, and the cloud. The Company’s Intelligent Abstraction core provides a scalable storage hypervisor, coupled with a data services engine and automation. The Company’s Business Continuity and Disaster Recovery products include network storage server (NSS) and continuous data protector (CDP). Its Optimized Backup and Deduplication (OBD) products merge its virtual tape library (VTL) and file-interface deduplication system (FDS) solutions.
