Company sells 26,578,854 units of one common share and 0.4 warrants
By Devika Patel
Knoxville, Tenn., July 9 – Pershing Gold Corp. raised about $9 million in a private placement of units on July 2, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The company sold 26,578,854 units of one common share and 0.4 warrants.
Each whole warrant is exercisable at $0.45 until Jan. 2, 2017. The strike price is a 25% premium to $0.36, the July 1 closing share price.
Pershing is a gold explorer in Lakewood, Colo.
| Issuer: | Pershing Gold Corp.
|
| Issue: | Units of one common share and 0.4 warrants
|
| Amount: | $9 million (approximate)
|
| Units: | 26,578,854
|
| Warrants: | 0.4 warrants per unit
|
| Warrant expiration: | Jan. 2, 2017
|
| Warrant strike price: | $0.45
|
| Settlement date: | July 2
|
| Stock symbol: | OTCBB: PGLC
|
| Stock price: | $0.36 at close July 1
|
| Market capitalization: | $98.1 million
|
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