FALCONSTOR SOFTWARE, INC. (NASDAQ:FALC) Files An 8-K Unregistered Sales of Equity Securities
Item 3.02 Unrestricted Sale of Equity Securities.
On December 27, 2018, the Company issued 122,978,047 shares (the “Shares”) of Common Stock, $.001 par value. The Shares were issued to the exercise by Michael Kelly, a Director of the Company, of Warrants to purchase 763,915 Shares and the balance of the Shares were issued to another investor to the exercise of Warrants. Mr. Kelly and the other investor were granted the Warrants in connection with the Company’s previously disclosed and completed Private Placement. Mr. Kelly and the other 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 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.
