Deal sold 5 million units of one share, a half-share warrant at $0.50
By Devika Patel
Knoxville, Tenn., March 21 - Barfresh Food Group, Inc. said it settled a $2.5 million private placement of units.
The company sold 5 million units of one common share and a half-share warrant at $0.50 per unit.
The whole warrants are each exercisable at $0.50 for three years. The strike price is a 1.96% discount to the March 20 closing share price of $0.51.
The Denver company makes and distributes ready-to-blend beverages, which includes smoothies.
| Issuer: | Barfresh Food Group, Inc.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | $2.5 million
|
| Units: | 5 million
|
| Price: | $0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $0.60
|
| Settlement date: | March 21
|
| Stock symbol: | OTCBB: BRFH
|
| Stock price: | $0.51 at close March 20
|
| Market capitalization: | $42.91 million
|
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