Offering sells 505,780 shares along with warrants for 111,271 shares
By Devika Patel
Knoxville, Tenn., Jan. 15 - L&L Energy, Inc. settled an $875,000 private placement of stock in January, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The company sold 505,780 common shares. The price per share of $1.73 reflects a 7.49% discount to the Jan. 14 closing share price of $1.87.
The lone investor also received warrants for 111,271 shares. Each warrant is exercisable at $2.10 for three years. The strike price is a 12.3% premium to the Jan. 14 closing price.
The Seattle company is engaged in coal operations in Yunnan and Guizhou provinces in southern part of China.
| Issuer: | L&L Energy, Inc.
|
| Issue: | Common stock
|
| Amount: | $875,000
|
| Shares: | 505,780
|
| Price: | $1.73
|
| Warrants: | For 111,271 shares
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $2.10
|
| Announcement date: | Jan. 15
|
| Stock symbol: | Nasdaq: LLEN
|
| Stock price: | $1.87 at close Jan. 14
|
| Market capitalization: | $68.25 million
|
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