Offering sells 2.98 million shares at $0.75 each to CEO David Derrick
By Devika Patel
Knoxville, Tenn., July 17 - ActiveCare, Inc. said it settled a $2.24 million private placement of stock with its chairman and chief executive officer David Derrick from April 30 to July 3.
The company sold 2.98 million common shares at $0.75 per share, a 51.61% discount to the April 29 closing share price of $1.55.
Additionally, Derrick agreed to convert a $1.28 million debenture into 1,704,715 shares, for a conversion price of $0.75 per share.
The telematic and biosensor technology company is based in Orem, Utah.
| Issuer: | ActiveCare, Inc.
|
| Issue: | Common stock
|
| Amount: | $2,235,000
|
| Shares: | 2.98 million
|
| Price: | $0.75
|
| Warrants: | No
|
| Investor: | David Derrick
|
| Pricing date: | April 30 to July 3
|
| Stock symbol: | OTCBB: ACAR
|
| Stock price: | $1.55 at close April 29
|
| Market capitalization: | $7.03 million
|
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