The company, which creates digital human holograms known as HumaGrams, said it issued 2.5 million units in the second tranche, at a price of 40 cents apiece, for some $1 million in proceeds.
Together with the first tranche, ARHT collected $2.07 million in total. Each unit is made up of one common share and one half of a share purchase warrant, with every whole warrant entitling the holder to buy an additional share at a price of 60 cents for a period of two years.
In addition to potential acquisitions, the new funds will also be used for general working capital needs, ARHT said.
The Toronto-based company just last week unveiled its new line of digital display products called ARHT TV, representing its next step in the development of its multi-plane projection displays.
With the new line, ARHT TV viewers can conduct commerce and have interactive experiences with the company's HumaGrams, anywhere a standard LCD TV can be used. The technology used in each ARHT TV involves a patent-pending multi-plane visualization technology, the company said, synchronized to display a HumaGram and virtually any object or scene in 3D with "perfect HD clarity, creating a particular form of 3D without glasses and delivering a true augmented reality holographic experience."
With ARHT's groundbreaking HumaGram platform, celebrity holograms can be created and placed in window displays and other high traffic destinations, drawing customers into a region of proximity and offering them a value proposition. For example, the HumaGrams can deliver a message on a particular product tilted towards the viewer’s level of interest, then offer up the ability to buy the product right there on the spot through a QR code, an SMS text or side load of a coupon to the retailer’s mobile app on a smartphone.
The new TV line allows these HumaGrams to be displayed on any LCD TV.
The early stage company has achieved a number of milestones lately, having amassed a board of advisors which boasts a myriad of household names including Paul Anka, Larry King, Jason Bateman, Richard Bronson, Michael Buble, Carlos Slim, Kevin O'Leary and entertainment manager Irving Azoff. In December, ARHT unveiled its first big retail partnership with Harry Rosen, one of Canada's largest menwear retailers, to create its first-ever human hologram named Vincent.