Deal conducted by agent WestPark Capital; 6.7 million shares sold
By Devika Patel
Knoxville, Tenn., May 29 - Giggles N Hugs Inc. arranged a $2.6 million private placement of stock on May 27, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company will sell 6.7 million common shares at about $0.39 per share. The price per share represents a 22% discount to the May 23 closing share price of $0.50.
WestPark Capital, Inc. is the agent.
Based in Los Angeles, the company owns and operates a kid-friendly restaurant named Giggles N Hugs.
| Issuer: | Giggles N Hugs Inc.
|
| Issue: | Common shares
|
| Amount: | $2.6 million
|
| Shares: | 6.7 million
|
| Price: | $0.39 (approximate)
|
| Warrants: | No
|
| Agent: | WestPark Capital, Inc
|
| Pricing date: | May 27
|
| Stock symbol: | OTCBB: GIGL
|
| Stock price: | $0.50 at close May 23
|
| Market capitalization: | $13.79 million
|
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