By Sheri Kasprzak
New York, April 17 - Natural Health Trends Corp. priced a $2,772,700 offering of series A convertible preferred stock.
The deal includes up to 1.631 million shares of the preferreds at $1.70 each.
The 7% preferreds are convertible on a one-for-one basis for common shares.
The investors will receive warrants for 1.631 million shares, exercisable at prices ranging from $3.80 to $5.00 each, depending upon the time of exercise. The warrants expire in six years.
Proceeds will be used for working capital.
Dallas-based Natural Health Trends is a direct-selling and e-commerce company focused on personal care products.
| Issuer: | Natural Health Trends Corp.
|
| Issue: | Series A convertible preferred stock
|
| Amount: | $2,772,700
|
| Shares: | 1.631 million
|
| Price: | $1.70
|
| Dividends: | 7%
|
| Conversion ratio: | One-for-one
|
| Warrants: | For 1.631 million shares
|
| Warrant expiration: | Six years
|
| Warrant strike prices: | From $3.80 to $5.00
|
| Pricing date: | April 16
|
| Stock symbol: | Nasdaq: BHIP
|
| Stock price: | $2.31 at close April 16
|
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