Published on 12/7/2005 in the Prospect News PIPE Daily.
New Issue: Coach Industries raises $2.2 million from sale of shares
By Sheri Kasprzak
New York, Dec. 7 - Coach Industries Group, Inc. said it has completed a private placement of stock and warrants for $2.2 million.
The company issued 7,333,333 shares at $0.30 each to accredited investors.
The investors received five-year warrants for 7,333,333 shares. Half of the warrants are exercisable at $0.50 each and the other half at $0.75 each.
Coach, based in Kansas City, Mo., provides financial services, as well as limousine and other vehicles to commercial fleet operators.
Issuer: | Coach Industries Group, Inc.
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Issue: | Stock
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Amount: | $2.2 million
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Shares: | 7,333,333
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Price: | $0.30
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Warrants: | For 7,333,333 shares
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Warrant expiration: | Five years
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Warrant strike price: | $0.50 for half; $0.75 for half
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Settlement date: | Dec. 2
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Stock price: | $0.42 at close Dec. 2
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