Digital Cinema to raise $5.7M in direct offering of 1.1M shares

theflyonthewall.com

Digital Cinema Destinations, doing business as Digiplex Destinations, announced that is has entered into definitive agreements with certain institutional investors to sell an aggregate of 1.141M shares of its Class A Common Stock in a registered direct offering for gross proceeds of approximately $5.7M, before deducting placement fees and offering expenses. The shares were sold at a price of $5.00 per share. Barrington acted as exclusive placement agent for the offering. The company intends to use the net proceeds from the offering for general corporate purposes and the closing of this offering is expected to occur on or about October 9.

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