Payment Data Systems Announces $3 Million Registered Direct Offering of its Common Stock

SAN ANTONIO, Dec. 21, 2017 (GLOBE NEWSWIRE) — Payment Data Systems, Inc. (Nasdaq:PYDS), an integrated electronic payment solutions provider, today announced it has agreed to the sale and issuance to institutional investors of 1,176,000 shares of common stock in a registered direct offering with gross proceeds of approximately $3 million. The offering price per share of common stock is $2.55.  The offering is expected to close on or about December 22, 2017, subject to the satisfaction of customary closing conditions.