Company sells units of one share and one warrant at $1.20 in offering
By Devika Patel
Knoxville, Tenn., Jan. 5 – Intellinetics, Inc. settled a $1.39 million private placement of units on Dec. 29 and Dec. 31, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The company sold 1,160,067 units of two common shares and one warrant at $1.20 per unit.
Each warrant is exercisable at $0.65 for five years. The strike price is a 27.78% discount to $0.90, the Dec. 28 closing share price.
Taglich Brothers, Inc. was the agent. Michael Taglich bought 100,000 units for $120,000.
Proceeds will be used for working capital and general corporate purposes, including debt reduction.
The software and technology company is based in Columbus, Ohio.
| Issuer: | Intellinetics, Inc.
|
| Issue: | Units of two common shares and one warrant
|
| Amount: | $1,392,080
|
| Units: | 1,160,067
|
| Price: | $1.20
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.65
|
| Agent: | Taglich Brothers, Inc.
|
| Investor: | Michael Taglich (for $120,000)
|
| Settlement dates: | Dec. 29 and Dec. 31
|
| Stock symbol: | OTCBB: INLX
|
| Stock price: | $0.90 at close Dec. 28
|
| Market capitalization: | $6.4 million
|
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