Intelligentias, Inc., a leading proponent in the homeland security industry, announced today that Kingdon Capital Management, LLC, through affiliated funds it manages, has made a $10.0 million investment in the company.
According to the terms in this $10.0 million transaction, the Kingdon funds purchased an aggregate of 12,500,000 shares of Intelligentias’ series A preferred stock. Furthermore, this agreement also specified the option to purchase an aggregate of up to 6,250,000 shares of Intelligentias’ common stock at price of $1.25 per share or the option to purchase 5,000,000 shares of common stock at an exercise price of $1.80 per share. The series A preferred stock will be subject to anti-dilution provisions for the first 18 months after issuance.
“I think that this funding is validation of the market size and our ability to capture a significant share of the business. I look forward to working with Kingdon,” said Ian W. Rice, Chairman and Chief Executive Officer of Intelligentias.
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