Company sells shares, five-year warrants via agent Rodman & Renshaw
By Devika Patel
Knoxville, Tenn., Dec. 21 - Catasys, Inc. said it will raise about $1 million in a registered direct offering of stock.
The company will sell about 3.3 million common shares at $0.30 per share, a 26.67% discount to the Dec. 20 closing share price of $0.38.
Investors also will receive warrants for about 3.3 million shares, which are exercisable at $0.30 for five years. The strike price is also a 26.67% discount to the Dec. 20 closing share price.
Rodman & Renshaw, LLC is the agent for the deal, which is slated to settle on Dec. 23.
Proceeds will be used for working capital and general corporate purposes.
The health care services management company is based in Los Angeles.
| Issuer: | Catasys, Inc.
|
| Issue: | Common shares
|
| Amount: | $1 million (approximate)
|
| Shares: | 3.3 million (approximate)
|
| Price: | $0.30
|
| Warrants: | For about 3.3 million shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.30
|
| Agent: | Rodman & Renshaw, LLC
|
| Pricing date: | Dec. 21
|
| Settlement date: | Dec. 23
|
| Stock symbol: | Pink Sheets: CATS
|
| Stock price: | $0.38 at close Dec. 20
|
| Market capitalization: | $5.56 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
