Skip to main content

Information Analysis Announces $2,800,000 Equity Financing

Written by Customer Service on . Posted in Public Companies.

FAIRFAX, Va., Aug. 30, 2021 (GLOBE NEWSWIRE) — Information Analysis Incorporated (OTCQB: IAIC) (“IAI”) today announced that it has sold 1,400,000 Units at a price of $2.00 per unit in a private placement financing.

Each Unit was sold at a price of $2.00 and consists of one share of IAI common stock and one warrant exercisable through August 31, 2026 for a share of common stock at an exercise price of $3.00 per share.

The financing was led by the Company’s newly appointed Chairman and CEO, Mr. Jaime Benoit, who invested $1.5 million, along with participation from existing investors, which included the entire Board of Directors. There were no fees paid to placement agents in this offering.

Jamie Benoit, Chairman and CEO, noted, “We believe that IAI is in an excellent position to continue its transformation strategy and reposition the Company as a disruptive technology and commercial enablement leader in government and global private sector verticals. We were delighted that the entire Board of Directors invested in the transaction, which reflects our collective belief in the significant potential of IAI in the market. The working capital proceeds from this financing better position our Company to pursue an aggressive acquisition strategy and facilitates our ability to uplist our shares on Nasdaq.”

About Information Analysis Incorporated
Information Analysis Incorporated (www.infoa.com), headquartered in Fairfax, Virginia, is an information technology products and services company. The Company specializes in software conversions, systems modernization and security.

Additional information for investors
This release may contain forward-looking statements regarding the Company’s business, customer prospects, or other factors that may affect future earnings or financial results. Such statements involve risks and uncertainties which could cause actual results to vary materially from those expressed in the forward-looking statements. Investors should read and understand the risk factors detailed in the Company’s 10-K for the fiscal year ended December 31, 2020 and in other filings with the Securities and Exchange Commission.

For additional information contact:
Jeremy Hellman, CFA
Vice President
The Equity Group Inc.
(212) 836-9626

Matt Sands, CFO
msands@infoa.com
(703) 293-7925

 

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.