uWink completes $10.4 million financing

uWink completes $10.4 million financing
Tags: Operations Management, Self Service
November 7, 2007

LOS ANGELES — uWink Inc. has announced the completion of its $10.4 million registered equity financing. The proceeds of the raise will be used to fund new restaurant development and general working capital needs, according to a news release.

Investors purchased approximately 5.2 million units at a purchase price of $2 per unit, each of which consists of one share of common stock and a warrant to purchase one share of the company's common stock at an exercise price of $2.40.

The warrants are immediately separable from the units, immediately exercisable and will expire on the fifth anniversary of the date of their issuance. Net proceeds are expected to be approximately $9.3 million after deducting placement agent fees and offering expenses.