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DPSI > SEC Filings for DPSI > Form 8-K on 26-Nov-2013All Recent SEC Filings

Show all filings for DECISIONPOINT SYSTEMS, INC.



Unregistered Sale of Equity Securities, Financial Statements and Exhi

Item 3.02 Unregistered Sales of Equity Securities.

On November 22, 2013, DecisionPoint Systems, Inc. (the "Company") sold an aggregate of 25,500 shares of Series E Preferred Stock (the "Series E Preferred Shares") to accredited investors for a purchase price of $10.00 per share, for aggregate gross proceeds of $255,000 (the "Series E Second Closing"). The Series E Second Closing occurred pursuant to the previously disclosed Securities Purchase Agreement, dated as of November 12, 2013, between the Company and the accredited investors identified therein, the terms and conditions of which were described in the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on November 18, 2013, which is hereby incorporated by reference.

The Company retained Taglich Brothers, Inc. (the "Placement Agent") as the placement agent for the Series E Second Closing. The Company paid the Placement Agent $20,400 in commissions (equal to 8% of the gross proceeds), and issued to the Placement Agent and its designees five-year warrants (the "Placement Agent Warrants") to purchase 51,000 shares of common stock (equal to 10% of the number of shares of common stock underlying the Series E Preferred Shares sold under the Purchase Agreement) at an exercise price of $0.55 per share, in connection with the Series E Second Closing. In addition, the Company will pay Sigma Capital Advisors $7,650 (equal to 3% of the gross proceeds from the Series E Second Closing) as a finder's fee.

In connection with the foregoing, the Company relied on the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended, for transactions not involving a public offering.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number   Description
99.1             Form of Securities Purchase Agreement*

*Incorporated by reference to the Current Report on form 8-K that was filed by the Company with the Securities and Exchange Commission on November 18, 2013.

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