Stock sold at $0.03 per share, a 50% premium to Oct. 23 closing price
By Devika Patel
Knoxville, Tenn., Oct. 25 - NeoMagic Corp. settled a $205,000 private placement of stock on Oct. 24, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company sold 6,833,333 common shares at $0.03 per share, which is a 50% premium to the closing price of the stock on Oct. 23, $0.02.
Bluestone Financial Ltd., Attiva Capital Partners and Syed Zaidi were among the investors.
Proceeds will be used for general corporate purposes.
Based in Santa Clara, Calif., NeoMagic develops semiconductor chips and software for multimedia applications used in handheld devices.
| Issuer: | NeoMagic Corp.
|
| Issue: | Common stock
|
| Amount: | $205,000
|
| Shares: | 6,833,333
|
| Price: | $0.03
|
| Warrants: | No
|
| Investors: | Bluestone Financial Ltd., Attiva Capital Partners and Syed Zaidi
|
| Settlement date: | Oct. 24
|
| Stock symbol: | Nasdaq: NMGC
|
| Stock price: | $0.02 at close Oct. 23
|
| Market capitalization: | $1.3 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
