Document Security Systems (DMC) Announces Partnership with Fletcher Asset Management
Document Security Systems Inc., a company engaged in security and protection services that help prevent counterfeiting and brand fraud, today announced that on December 30, 2010, Fletcher Asset Management and its affiliates acquired $4.0 million of DMC’s common stock at $5.29 per share as part of an equity purchase agreement between the two firms. Per the agreement, Fletcher has the right to make an additional equity investment of up to $4 million during the early part of 2011; certain warrants may be exercised for a certain number of years. If exercised, the full potential share purchase, including warrants, if exercised…