A central Indiana tech company is looking to raise nearly $5 million with a common stock offering. Carmel-based Determine Inc. (Nasdaq: DTRM), which relocated from the Silicon Valley one year ago, says it plans to use proceeds from the sale for marketing, capital and corporate purposes.
It has signed an agreement to offer close to 2.2 million shares of stock for $2.50 each. The goal is to raise total proceeds of $5.46 million, minus placement agent fees and additional offering costs.
The exclusive placement agent for the sale is Lake Street Capital Markets.
The company was launched in 1996 as Selectica and rebranded as Determine after it acquired Carmel-based Iasta and France-based b-pack. When Determine announced it was moving its global headquarters to Hamilton County, the company said plans called for an investment more than $700,000 that includes adding 24 jobs by 2019.