New Issue: Q Comm International raises $1.93 million in private placement of stock, note

By Sheri Kasprzak

New York, July 11 - Q Comm International, Inc. said it has completed private placement of shares and a note for a total of $1,925,000.

The company sold 427,000 shares at $3.07 each to new and existing shareholders, including its largest shareholder, for total proceeds of $1,311,000.

Q Comm also sold a note for $614,000. The note bears interest at 5% annually and matures on July 7, 2007. The investor of the note, an existing shareholder, also received warrants for 230,000 shares, exercisable at $3.51 each for five years.

The proceeds will be used for growth.

Based in Orem, Utah, Q Comm develops prepaid transaction processors that electronically distribute prepaid products from the point of sale.

Issuer:	Q Comm International, Inc.
Issue:	Stock
Amount:	$1,311,000
Shares:	427,000
Price:	$3.07
Warrants:	No
Settlement date:	July 7
Stock price:	$3.51 at close July 7
Issuer:	Q Comm International, Inc.
Issue:	Note
Amount:	$614,000
Maturity:	July 7, 2007
Coupon:	5%
Price:	Par
Yield:	5%
Warrants:	For 230,000 shares
Warrant expiration:	Five years
Warrant strike price:	$3.51
Settlement date:	July 7
Stock price:	$3.51 at close July 7

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.