Published on 3/31/2008 in the Prospect News PIPE Daily.
New Issue: nFinanSe secures $1.83 million private placement of shares
By Devika Patel
Knoxville, Tenn., March 31 - nFinanSe Inc. completed a $1.23 million private placement of stock and warrants on March 28, according to an 8-K filed Monday with the Securities and Exchange Commission. The company also settled a $600,000 placement of stock and warrants on March 31, the filing said.
In the first placement, the company sold 490,000 common shares at $2.50 per share. Investors also received warrants for 245,000 shares, which are exercisable at $3.25.
In the second deal, nFinanSe sold 240,000 common shares also at $2.50 per share. Investors received warrants for 120,000 shares, which also are exercisable at $3.25.
Emerging Growth Equities, Ltd. was the agent.
Based in Bradenton, Fla., nFinanSe is a financial services company and provides stored value and prepaid cards.
| Issuer: | nFinanSe Inc.
|
| Issue: | Common stock, warrants
|
| Amount: | $1,825,000
|
| Price: | $2.50
|
| Warrant strike price: | $3.25
|
| Agent: | Emerging Growth Equities, Ltd.
|
| Stock symbol: | OTCBB: NFSE
|
|
|
| March 28 deal
|
| Amount: | $1,225,000
|
| Shares: | 490,000
|
| Warrants: | For 245,000 shares
|
| Settlement date: | March 28
|
| Stock price: | $2.80 at close March 28
|
|
|
| March 31 deal
|
| Amount: | $600,000
|
| Shares: | 240,000
|
| Warrants: | For 120,000 shares
|
| Settlement date: | March 31
|
| Stock price: | $3.00 at close March 31
|
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