Read the story here. Advertise at Before It's News here.
Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views
Last hour:
Last 24 hours:

Security Devices closes over $2 million in financing for working capital

% of readers think this story is Fact. Add your two cents.

Security Devices International Inc (OTCMKTS:SDEV) (CSE:SDZ), a Wakefield, Massachusetts-based non-lethal defense technology company, announced Thursday it has raised cash for working capital through an offering of its stock.

The creator of the hot-selling Byrna, which dispenses chemical irritants from a handgun-like security device, offered investors offerings of $2,080,264.61 units, with each $1,000 unit consisting of a $1,000 unsecured promissory note, convertible into the company’s stock at .001 per share; and 4,000 warrants, each worth one share at an exercise price of $0.25 per share.

READ: Security Devices kicks off Byrna HD personal security device sales with launch of its e-commerce store

The company said the sale was closed in two tranches. The first tranche closed on April 22, 2019, with an issuance of $1,715,265.71 units, and the second tranche of $364,999.90 units closed on Monday.

The net proceeds from the sale of the units will be used to repay at maturity the company’s Series B convertible secured debentures and for working capital, the company said.

Security Device makes the small, lightweight 0.68 caliber hand-held Byrna security device which is equipped with a five-round magazine capable of accurately and effectively hitting a target at up to 60 feet — without causing serious injury.

Contact Uttara Choudhury at [email protected]

Follow her on Twitter@UttaraProactive 

Story by ProactiveInvestors


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!

Order by Phone at 888-809-8385 or online at M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at M - F 9am to 5pm EST

Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse


    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    Load more ...




    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.