FALCONSTOR SOFTWARE, INC. (NASDAQ:FALC) Files An 8-K Unregistered Sales of Equity Securities
Item 3.02. Unrestricted Sale of Equity Securities.
On December 31, 2018, the Company issued an aggregate of 54,264,063 shares (the “Shares”) of Common Stock, $.001 par value (the “Common Stock”). The Shares were issued to investors to the exercise by such investors of warrants (the “Warrants”). The Warrants were granted in connection with the Company’s previously disclosed private placement, the final tranche of which closed in October 2018. The investors exercised the Warrants through a cash payment of $.001 per Share. As a result of the exercise of the Warrants, all of the warrants granted in the private placement have now been exercised.
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.
