Deal settles with multiple investors at 99.49% discount to share price
By Devika Patel
Knoxville, Tenn., Dec. 13 - USD Energy Corp. settled a private placement of stock on Dec. 7, according to an 8-K filed Monday with the Securities and Exchange Commission. It raised $1.1 million.
The company sold 21.5 million common shares. The price per share, of about $0.05116, is a 99.49% discount to $10.00, the Dec. 6 closing share price.
Investors included Thomas Ronk, the Izak Zirk Engelbrecht Living Trust, Kensington & Royce, Ltd., and Angelique de Maison.
The energy company is based in Santee, Calif.
| Issuer: | USD Energy Corp.
|
| Issue: | Common stock
|
| Amount: | $1.1 million
|
| Shares: | 21.5 million
|
| Price: | $0.05116 (approximate)
|
| Warrants: | No
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| Investor: | Thomas Ronk, the Izak Zirk Engelbrecht Living Trust, Kensington & Royce, Ltd., and Angelique de Maison
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| Settlement date: | Dec. 7
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| Stock symbol: | Pink Sheets: UEGY
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| Stock price: | $10.00 at close Dec. 7
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| Market capitalization: | $10.53 million
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