Information Analysis Announces $10,000,000 Equity Financing
Summary
Jamie Benoit, Chairman and CEO, noted, “We believe that IAI is in an excellent position to continue its transformation strategy and reposition the Company as a disruptive technology and commercial enablement leader in government and global private sector verticals. We were delighted that members of the management team and our Board of Directors invested in the transaction, which reflects our collective belief in the significant potential of IAI in the market.” Mr. Benoit added, “The speed with which we closed on this financing, its significant oversubscription, the fact that this was done without incurring bankers’ fees and the broad base of new stockholders who invested today demonstrates acceptance of our thesis and belief in our management team. The proceeds from this financing positions us to close on the acquisition of Gray Matters, Inc. just three months after I joined the Company and provide the additional working capital required to aggressively deploy our unique blockchain technology to the wider government and commercial markets.” The securities sold in this private placement have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the U.S. except pursuant to an effective registration statement or an applicable exemption from the registration requirements. IAI has agreed to file a registration statement with the Securities and Exchange Commission registering the resale of the shares of common stock issued in these private placements. Additional information for investors This release may contain forward-looking statements regarding the Companys business, customer prospects, or other factors that may affect future earnings or financial results.