Deal sells 800,000 shares at $0.25 each, along with five-year warrants
By Devika Patel
Knoxville, Tenn., April 5 - Grandparents.com, Inc. completed a $200,000 private placement of stock on April 1 and April 4, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold 800,000 common shares at $0.25 per share. The price per share is identical the closing share price on March 28.
Investors also received warrants for 200,000 shares. Each warrant is exercisable at $0.25 for five years. The strike price is also identical the March 28 closing share price.
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| Issuer: | Grandparents.com, Inc.
|
| Issue: | Common stock
|
| Amount: | $200,000
|
| Shares: | 800,000
|
| Price: | $0.25
|
| Warrants: | For 200,000 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.25
|
| Settlement date: | April 1 and April 4
|
| Stock symbol: | OTCBB: GPCM
|
| Stock price: | $0.25 at close March 28
|
| Market capitalization: | $15.86 million
|
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