New Issue: Coach Industries raises $2.2 million from sale of shares

By Sheri Kasprzak

New York, Dec. 7 - Coach Industries Group, Inc. said it has completed a private placement of stock and warrants for $2.2 million.

The company issued 7,333,333 shares at $0.30 each to accredited investors.

The investors received five-year warrants for 7,333,333 shares. Half of the warrants are exercisable at $0.50 each and the other half at $0.75 each.

Coach, based in Kansas City, Mo., provides financial services, as well as limousine and other vehicles to commercial fleet operators.

Issuer:	Coach Industries Group, Inc.
Issue:	Stock
Amount:	$2.2 million
Shares:	7,333,333
Price:	$0.30
Warrants:	For 7,333,333 shares
Warrant expiration:	Five years
Warrant strike price:	$0.50 for half; $0.75 for half
Settlement date:	Dec. 2
Stock price:	$0.42 at close Dec. 2

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