Platinum Partners purchases company's common shares at $3.00 apiece
By Devika Patel
Knoxville, Tenn., June 1 - Car Charging Group, Inc. completed a $1 million private placement of stock on May 27, according to an 8-K filed Wednesday with the Securities and Exchange Commission. Platinum Partners Liquid Opportunity Master Fund, LP was the investor.
The company sold 333,333 common shares at $3.00 per share. The price per share reflects a 5.63% premium to $2.84, the closing share price on May 26.
Proceeds will be used for working capital and the acquisition and installation of Electric Vehicle Charging Stations.
Based in Santa Monica, Calif., Car Charging Group provides and installs car charging stations at public locations.
| Issuer: | Car Charging Group, Inc.
|
| Issue: | Common stock
|
| Amount: | $1 million
|
| Shares: | 333,333
|
| Price: | $3.00
|
| Warrants: | No
|
| Investor: | Platinum Partners Liquid Opportunity Master Fund, LP
|
| Settlement date: | May 27
|
| Stock symbol: | OTCBB: CCGI
|
| Stock price: | $2.53 at close May 27
|
| Market capitalization: | $68.47 million
|
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