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Investing

VirnetX Holding Corporation Files To Raise Cash (VHC)

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By Douglas A. McIntyre Published
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VirnetX Holding Corporation (AMEX: VHC) has filed to sell up to $30 million worth of common stock in a secondary offering.  Cowen and Company, LLC is the lead placement agent and Craig-Hallum Capital Group LLC is the co-placement agent.

The company is developing software and technologysolutions for securing real-time communications over the Internet. Itspatented GABRIEL Connection Technology combines industry standardencryption protocols with its patented techniques for automated domainname system, or DNS, look-up mechanisms, enabling users to create asecure communication link using secure domain names.

The company says it will use all of the funds from this offering to fund development activities,pursue its litigation strategy and for general working capital needs.

Shares closed yesterday at $2.10 and the 52-week trading range is $1.26to $7.06.  Average daily volume is only about 42,000 shares.

Jon C. Ogg
September 24, 2008

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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