ICOP Digital Announces Closing of Additional $1.6M of Secondary Offering
LENEXA, Kan.--July 26, 2005--ICOP Digital, Inc., a leading provider of digital in-car video systems for law enforcement, today announced the closing of an additional $1.6 million associated with its secondary public offering which initially closed on July 13, 2005. This additional closing raised net proceeds of $1.5 million through the exercise by Paulson Investment Company, Inc., the lead underwriter, of its overallotment option to take an additional 195,000 units of the offering. Founded in 1970 by Chet Paulson, Paulson Investment Company, Inc. is the Northwest's largest independent brokerage firm and a leading investment banker for emerging companies nationwide (www.paulsoninvestment.com). "We are pleased with the additional investment and the confidence Paulson has placed in our company," said David Owen, President and CEO of ICOP Digital."The funding we have received will enable ICOP to aggressively pursue this fast-growing surveillance market with the ICOP Model 20/20."The units are composed of two shares of common stock and two warrants, at an offering price of $8.25 per unit. Each warrant has a five-year term with an exercise price of $6.19. The units trade under the symbol ICDGU until August 12, 2005, at which time the warrants and shares will trade separately.
ICOP Digital, Inc. is dual listed on the NASDAQ SmallCap market and the ArcaEx, and the common stock and warrants trade under the ticker symbols "ICDG" and "ICDGU," respectively.
About ICOP Digital, Inc.
ICOP Digital, Inc. (PCX: ICDG) is a Kansas-based company that delivers innovative mission-critical security, surveillance, and communications solutions that provide timely and accurate information for security for the public and private sectors, to monitor and protect people, assets, and profits. The ICOP Model 20/20(TM) is the leading digital in-car video recorder system, for use by law enforcement. ICOP Digital is committed to providing surveillance and communications solutions that help our customers improve their safety and security, through effective deployments of innovative technologies. www.ICOPdigital.com
Safe Harbor Statement
This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The company may experience significant fluctuations in future operating results due to a number of economic, competitive, and other factors, including, among other things, our reliance on third party manufacturers and suppliers, government agency budgetary and political constraints, new or increased competition, changes in market demand, and the performance or reliability of our products. These factors and others could cause operating results to vary significantly from those in prior periods, and those projected in forward-looking statements. Additional information with respect to these and other factors, which could materially affect the company and its operations, are included in certain forms the company has filed with the Securities and Exchange Commission.