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October 13, 2009 (FinancialWire) -- BluePhoenix Solutions (NASDAQ: BPHX | Quote | Chart | News | PowerRating) (Current Market Cap: $64.30 Mil.) said it has entered into a securities purchase agreement with institutional investors for the sale of around $4.2 million of its ordinary shares at a purchase price of $3.05 per share.
Under the agreement, the investors also received 818,744 series A warrants, 1,364,575 series B warrants and 818,744 series C warrants, each exercisable for the purchase of the company's ordinary shares. The series A warrants are exercisable immediately at an exercise price of $3.95 and have a five-year term.
The series B and C warrants are exercisable immediately as well, at an exercise price of $3.05 and $3.95, respectively.
Israel-based BluePhoenix Solutions is a provider of IT modernization solutions.
France, The Netherlands, Romania, Russia, Cyprus, South Korea, Australia, and Israel.
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Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).
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