Company sells 1.11 million of shares at $1.00 each in deal
By Devika Patel
Knoxville, Tenn., May 16 - Cubed, Inc. completed a $1.11 million private placement of stock with 17 investors on May 9, according to an 8-K filed Friday with the Securities and Exchange Commission. The shares were sold for $966,000 in cash and a $144,000 reduction of debt.
The company sold 1.11 million common shares at $1.00 apiece, an 81.2% discount to the May 8 closing share price of $5.32.
The software company is based in Las Vegas.
| Issuer: | Cubed, Inc.
|
| Issue: | Common shares
|
| Amount: | $1.11 million
|
| Shares: | 1.11 million
|
| Price: | $1.00
|
| Warrants: | No
|
| Settlement date: | May 9
|
| Stock symbol: | OTCBB: CRPT
|
| Stock price: | $5.32 at close May 8
|
| Market capitalization: | $137.44 million
|
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