Offering sells 350,000 common shares at $4.00 each, a 25.39% premium
By Devika Patel
Knoxville, Tenn., April 5 - Industrial Services of America, Inc. settled a $500,000 initial tranche of a $1.4 million private placement of stock with Blue Equity, LLC on April 1, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company is selling 350,000 common shares at $4.00 apiece. The price per share is a 25.39% premium to the March 28 closing share price of $3.19.
Industrial Services sold 125,000 shares in the first tranche.
The Louisville, Ky., company is a recycler of stainless steel, ferrous and non-ferrous scrap and provider of waste services.
| Issuer: | Industrial Services of America, Inc.
|
| Issue: | Common stock
|
| Amount: | $1.4 million
|
| Shares: | 350,000
|
| Price: | $4.00
|
| Warrants: | No
|
| Investor: | Blue Equity, LLC
|
| Settlement date: | April 1 (for $500,000)
|
| Stock symbol: | Nasdaq: IDSA
|
| Stock price: | $3.19 at close March 28
|
| Market capitalization: | $21.18 million
|
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