Nine investors purchase 1.73 million additional shares for $1.00 each
By Angela McDaniels
Tacoma, Wash., June 23 – Cubed, Inc. increased the size of its recent private placement of common stock to $2.84 million from $1.11 million through the sale of 1.73 million additional shares on June 20.
The shares were sold to nine purchasers for $1.73 million, according to an 8-K filed Friday with the Securities and Exchange Commission.
As previously reported, the company sold 1.11 million shares for $1.00 each to 17 investors on May 9. Those shares were sold for $966,000 of cash and a $144,000 reduction of debt.
The $1.00 price is an 81.2% discount to the May 8 closing share price of $5.32.
The development-stage software company is based in Las Vegas.
| Issuer: | Cubed, Inc.
|
| Issue: | Common shares
|
| Amount: | $2,835,000, increased from $1.11 million
|
| Shares: | 2,835,000, increased from 1.11 million
|
| Price: | $1.00
|
| Warrants: | No
|
| Settlement dates: | May 9 (for $1.11 million); June 20 (for $1,725,000)
|
| Stock symbol: | OTCBB: CRPT
|
| Stock price: | $5.32 at close May 8
|
| Market capitalization: | $137.44 million
|
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