FALCONSTOR SOFTWARE, INC. (NASDAQ:FALC) Files An 8-K Unregistered Sales of Equity Securities
Item 3.02 Unrestricted Sale of Equity Securities.
On December 19, 2018, the Company issued 303,379,065 shares (the “Shares”) of Common Stock, $.001 par value. The Shares were issued to the exercise by HCP-FVA, LLC (“HCP-FVA”), an affiliate of Martin Hale, a Director of the Company, of Warrants which were granted to HCP-FVA in connection with the Company’s previously disclosed and completed Private Placement. HCP-FVA exercised the Warrants through a cash payment of $.001 per Share.
The Shares issued by the Company were issued to the exemption contained in Section4(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.
