Company sells a total of 5.75 million shares for $1.44 million
By Marisa Wong
Madison, Wis., May 15 - Buildablock Corp. sold an additional 2.2 million shares of its common stock on April 30 at $0.25 per share, for total proceeds of $550,000, according to an 8-K filing with the Securities and Exchange Commission.
The company previously completed an $886,750 private placement of shares on April 20. The latest tranche brings the total size of the placement to $1.44 million.
In the first tranche, the company sold 3,547,000 shares at $0.25 per share.
In both tranches, investors received one warrant for each share issued. The company issued a total of 5,747,000 warrants. Each warrant is exercisable at $0.50 per share until Aug. 31, 2013. The strike price is a 42.86% premium to the closing share price of $0.35 on April 19.
Buildablock is a Montreal-based internet and mobile services company.
Issuer: | Buildablock Corp.
|
Issue: | Shares
|
Amount: | $1,436,750 (increased from $886,750)
|
Shares: | 5,747,000
|
Price: | $0.25
|
Warrants: | For 5,747,000 shares (one warrant per share)
|
Warrant expiration: | Aug. 31, 2013
|
Warrant strike price: | $0.50
|
Settlement dates: | April 20 for $886,750; April 30 for $550,000
|
Stock symbol: | OTCBB: BABL
|
Stock price: | $0.65 at close May 14
|
Market capitalization: | $10.51 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.