PokerTek announces investment led by board and executives
Joseph Lahti, Mark Roberson, Lyle Berman, James Crawford and Gehrig White invested us$ 260,000 to purchase an aggregate of 191,175 shares of common stock at us$ 1.36 per share, the consolidated closing bid price on the NASDAQ Capital Market on May 12, 2011. Messrs. Lahti, Roberson, Berman and Crawford contributed cash to purchase common shares. White cancelled a portion of an outstanding note as consideration for his share purchase.
In addition to the purchases by executives and Board members, several non-affiliated accredited investors participated in the private placement investing us$ 388,440 to purchase an aggregate of 314,986 shares, representing a 10 % discount.
“This transaction provides growth capital to fund the expansion our recent Blackjack Pro launch. The initial units placed in the first quarter are performing above expectations, and, based on that performance, we are proceeding with plans to expand the installed base,” commented Mark Roberson, Chief Executive Officer. “We are confident in the future of PokerTek and look forward to increasing our dominant position in poker and expanding our product line with Blackjack Pro.”
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