Company to Begin Trading on the NASDAQ Capital Markets under the
symbols COYN and COYNW
COPsync, Inc. (NASDAQ: COYN), which operates the nation’s only law
enforcement in-car information sharing and communication network and the
COPsync911 threat alert service for schools, government buildings,
hospitals and other potentially at-risk facilities, announced approval
to list its common stock and warrants on the NASDAQ Stock Market
effective November 13, 2015, and will trade under the symbols COYN and
COYNW, respectively.
The Company also announced the pricing of an underwritten public
offering of 3,028,572 shares of common stock, and warrants to purchase
up to an aggregate of 3,028,572 shares of common stock, at an offering
price of $3.49 per share and $0.01 per warrant. The warrants have a per
share exercise price of $3.125, are exercisable immediately, and expire
five years from the date of issuance. The gross proceeds to COPsync from
this offering are approximately $10.6 million before deducting the
underwriting discount and other estimated offering expenses. The Company
has granted the underwriters a 45-day option to purchase up to an
aggregate of 454,286 additional shares of common stock and/or up to
454,286 additional warrants to cover over-allotments, if any. The
offering is expected to close on or about November 18, 2015, subject to
customary closing conditions.
Maxim Group LLC and Aegis Capital Corp are acting as Joint Book-Running
Managers for the transaction.
The Company intends to use the net proceeds from the offering to fund
working capital, expansion of sales and marketing and continued product
development and network enhancement.
A registration statement relating to these securities was declared
effective by the Securities and Exchange Commission on November 12,
2015. When available, copies of the final prospectus relating to this
offering may be obtained from Maxim Group LLC, 405 Lexington Avenue, 2nd
Floor, New York, NY 10174 or via telephone at 212-895-3745. The final
prospectus relating to the offering will also be available on the SEC's
website at http://www.sec.gov.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About COPsync
COPsync, Inc. (NASDAQ: COYN) is a technology company that improves
communication between and among law enforcement officers and agencies
from differing jurisdictions to help them prevent and respond more
quickly to crime. The COPsync Network connects law enforcement officers
and agencies to a common communications system, which gives officers
instant access to actionable, mission-critical data and enables them to
share information and communicate in real-time with other officers and
agencies, even those hundreds and thousands of miles away. The Network's
companion, COPsync911 threat alert system, enables schools, courts,
hospitals, government buildings, energy, telecommunications and other
potentially at-risk facilities to automatically and silently send threat
alerts directly to local law enforcement officers in their patrol cars
in the event of a crisis, thereby speeding first responder response
times and saving minutes when seconds count. The COPsync Network saves
officer and citizen lives, reduces unsolved crimes and assists in
apprehending criminals and interdicting criminal behavior -- through
such features as a nationwide officer safety alert system, GPS/auto
vehicle location and distance-based alerts for crimes in progress, such
as school crisis situations, child abductions, bank robberies and police
pursuits. The COPsync Network also eliminates manual processes and
increases officer productivity by enabling officers to electronically
write tickets, accident reports, DUI forms, arrest forms and incident
and offense reports. The company also sells VidTac(R), an in-vehicle,
software-driven video system for law enforcement. Visit www.copsync.com
and www.copsync911.com
for more information.
Statements in this release that are not purely historical facts or that
depend upon future events, including statements about forecasts of
earnings, revenue, product development, sales or other statements about
anticipations, beliefs, expectations, intentions, plans or strategies
for the future, may be forward-looking statements within the meaning of
Section 21E of the Securities Exchange Act of 1934, as amended. Examples
of such forward-looking statements include, without limitation, “The
Company intends to use the net proceeds from the offering to fund ….”
Readers are cautioned not to place undue reliance on forward-looking
statements. All forward-looking statements are based on information
available to the Company on the date this release was issued. The
Company undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. Any statements involve risks and
uncertainties that could cause actual events or results to differ
materially from the events or results described in the forward-looking
statements, including risks or uncertainties related to the Company’s
ability to obtain and retain customers and development, implementation
and acceptance of its products and services. The Company may not succeed
in adequately addressing and managing these and other risks. Further
information regarding factors that could affect the Company’s financial,
operating and other results can be found in the risk factors section of
the Company’s registration statement filed with the Securities and
Exchange Commission.
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