By Sheri Kasprzak
Atlanta, June 30 - GlobalOptions Group, Inc. said it has received $7.5 million from a private placement.
The company sold 7,500 units at $1,000 apiece to accredited investors.
The units include one share of series A convertible preferred stock and one detachable warrant. Each warrant allows for the purchase of 125 common shares at $2.50 each through June 24, 2009.
Each preferred is initially convertible into 500 common shares.
The preferreds do not pay dividends.
Brookshire Securities Corp. was the placement agent.
Most of the proceeds will be used for GlobalOptions' $5 million acquisition of Confidential Business Resources, Inc. The remainder will be used for general and administrative purposes, as well as working capital.
Based in Washington, D.C., GlobalOptions is a risk management and business intelligence company.
| Issuer: | GlobalOptions Group, Inc.
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| Issue: | Units of one share of series A convertible preferred stock and one warrant for 125 shares
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| Amount: | $7.5 million
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| Units: | 7,500
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| Price: | $1,000
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| Warrants: | One warrant for 125 shares per unit
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| Warrant expiration: | June 24, 2009
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| Warrant strike price: | $2.50
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| Placement agent: | Brookshire Securities Corp.
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| Settlement date: | June 27
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| Stock price: | $2.50 at close June 27
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