NEW YORK-Perfect Data Corp., which provides secure mobile solutions through its Sona Mobile Inc. subsidiary, closed a $5 million private placement.
Investors purchased about 3,850 shares of the company’s series B convertible preferred stock, which are convertible into 3.85 million shares of the company’s common stock and 962,175 common stock purchase warrants with an exercise price of $1.968 per share. The securities represent about 12-percent ownership in Perfect Data.
Proceeds will be used for working capital, with a focus on building the company’s indirect sales channels with device manufacturers, content providers and wireless carriers.
