11:41 AM EST - DragonWave Inc. : Has closed a registered direct offering previously announced on April 7. Under the offering, the Company issued 599,998 Common Shares in a Registered Direct Offering, and concurrently in a private placement, issued warrants to purchase 299,999 Common Shares exercisable in the future at an exercise price of $8.50 U.S. The price per common share and half of a warrant was $7.25 U.S. and resulted in total gross proceeds to the Company of $4.35 million U.S. DragonWave Inc.
shares T.DWI are trading up $0.49 at $8.09.
