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eGain Corporation (NASDAQ:EGAN) disclosed Wednesday that it issued a warrant to JPMC Strategic Investments I Corporation to acquire up to 500,000 shares of eGain’s common stock at an exercise price of $7.10 per share. The transaction took place Thursday last week.
According to the company’s statement in a press release, the offer and issuance of the warrant are expected to be exempt from registration under the Securities Act of 1933, as amended, pursuant to Section 4(a)(2) of the Act. JPMC Strategic Investments I Corporation represented to eGain that it qualifies as an accredited investor under Regulation D and is acquiring the warrant for investment purposes.
In connection with this transaction, eGain and JPMC Strategic Investments I Corporation entered into a board observer agreement. Under this agreement, a senior executive of JPMC has been granted the right to attend meetings of eGain’s board of directors in a non-voting observer capacity.
The information is based on a statement made in a recent SEC filing.
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