ImageWare Systems, a leader in biometric identification and authentication, today announced that it has closed a $11.56 million private placement of Series D Convertible Preferred Stock.The company also announced the simultaneous restructuring of certain of its outstanding Preferred Stock and its Board of Directors, leaving Kristin A. Taylor , President and CEO, on the Board and appointing James (Jim) M. Demitrieus and Benjamin (Ben) Smeal effective immediately. Taylor has also been appointed Chair of the Board.Kristin A. Taylor , Chair, President and CEO, said, “With the closing of this financing, my enthusiasm and optimism have reached new heights. “This financing was anchored by funds and accounts managed by Nantahala Capital Management, LLC, based in New Canaan, Connecticut . It also included participants comprised of institutional investors and existing accredited investors. Proceeds from the financing will be used for general corporate and working capital purposes.
ImageWare closes $11.56 million private placement
