DPAC Technologies Raises $2 Million in Additional Equity.Business Editors/High-Tech Writers GARDEN GROVE, Calif.--(BUSINESS WIRE)--May 6, 2004 DPAC DPAC Denver Performing Arts Complex (CO, USA aka: DCPA) DPAC Deferred Policy Acquisition Costs (insurance) DPAC District Parent Advisory Committee DPAC Dover Partnership Against Crime Technologies Corp., (Nasdaq:DPAC) has announced that it has signed definitive agreements to raise approximately $2 million in a private placement of common stock and warrants. Upon funding, DPAC Technologies will issue approximately 2.48 million shares of common stock to the investors, along with two warrants. The Series A warrants expire in five years and are for approximately 1.24 million additional shares of common stock to the investors at $1.24 per share. The Series B warrants expire in 320 days from the effective registration date and are for approximately 1.03 million additional shares of common stock to the investors at $.97 per share. The warrants are callable Callable Applies mainly to convertible securities. Redeemable by the issuer before the scheduled maturity under specific conditions and at a stated price, which usually begins at a premium to par and declines annually. under certain conditions. The Seidler Companies, Inc. acted as placement agent. Kim Early, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , said, "We are pleased to have an agreement for this financing, which will provide additional capital to continue our growth in the wireless communications product market." These are restricted securities that were issued in a private placement without registration under the Securities Act of 1933. DPAC has agreed to register the shares for the investors. About DPAC Technologies Located in Garden Grove, California Garden Grove is a city centrally located in northern Orange County, California, United States. As of 2004, the city population was 170,000 people. California State Route 22, also known as the Garden Grove Freeway, passes through the city from east to west. , DPAC Technologies provides wireless connectivity solutions for OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and applications and a diverse portfolio of patented component packaging technology for high-density, space-saving memory and solutions for digital image enhancement See image editing. . DPAC's products are used in electronic circuits found in network servers, computer storage devices, medical instrumentation, communication devices, refrigeration refrigeration, process for drawing heat from substances to lower their temperature, often for purposes of preservation. Refrigeration in its modern, portable form also depends on insulating materials that are thin yet effective. controls, automotive diagnostic equipment and other advanced equipment. The Company's web site address is http://www.dpactech.com Forward-Looking Statements This press release includes forward-looking statements, including statements regarding technology development, expansion and business plans that are subject to change, uncertainties and risks. Every statement herein that is not historic in nature is a forward-looking statement for purposes of the Safe Harbor provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such statements involve risks and uncertainties, and therefore results may differ materially from those set forth in these statements. Factors that affect DPAC's business include; but are not limited to, the success of patented products, future business opportunities with products, the memory stacking market, protection of technology or proprietary rights, risks of litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , and general market and economic conditions. More information about the risks and challenges faced by DPAC Technologies Corp. is contained in the Securities and Exchange Commission filings made by the Company on Form 10-K, 10-Q and 8-K. DPAC Technologies Corp. specifically disclaims any obligation to update or revise any forward-looking statements whether as a result of new information, future developments or otherwise. |
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