GraphOn, a developer of cloud application delivery solutions, this morning announced that it has secured $7.1 million in equity financing in a private placement to a group of investors, employing intellectual property investment bank MDB Capital Group as its sole agent. GraphOn sold 35.5 million shares of its common stock at $0.20 per share.
GraphOn also issued five year warrants to the investors for an additional 17.75 million shares of common stock with an exercise price of $0.26 per share, a 30 percent premium to the sale price of the common stock in the transaction.
Founded in 1996, GraphOn Corporation is a publicly traded company headquartered in Santa Cruz, California.
The company offers solutions that enable customers to access applications from a multitude of devices from basically anywhere. Its flagship product is GO-Global, a cloud application delivery and Web-enabling solution that helps customers like AT&T, Warner Music Group and Alcatel-Lucent to extend the reach of their Windows, UNIX and Linux applications to a corporate network or the Web.
Most recently, GraphOn announced a private label service for its GO-Global iPad Client, providing software vendors and application service providers with a quick way to create an iPad
app that makes their Windows applications fully accessible to iPad users.