Company sells units of shares, warrants to 13 investors at $0.50 each
By Devika Patel
Knoxville, Tenn., Dec. 16 - National Holdings Corp. completed a private placement of units with 13 investors on Dec. 13, according to an 8-K filed Thursday with the Securities and Exchange Commission. It raised $1.04 million.
The company sold 2.07 million units of one common share and one warrant at $0.50 apiece.
Each warrant is exercisable at $0.50 for five years. The strike price is a 42.86% premium to $0.35, the Dec. 10 closing share price.
New York-based National Holdings is the holding company for National Securities Corp., National Insurance Corp. and National Holdings Mortgage Corp.
| Issuer: | National Holdings Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $1,035,000
|
| Units: | 2.07 million
|
| Price: | $0.50
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.50
|
| Settlement date: | Dec. 13
|
| Stock symbol: | OTCBB: NHLD
|
| Stock price: | $0.35 at close Dec. 10
|
| Market capitalization: | $4.32 million
|
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