Company sells 4,121,250 common shares along with 100% warrant coverage
By Devika Patel
Knoxville, Tenn., Sept. 19 - Wellness Center USA Inc. said it settled a $1.65 million private placement of stock.
The company sold 4,121,250 restricted common shares at $0.40 per share. The price per share is a 67.48% discount to the Sept. 18 closing share price of $1.23.
Investors also received warrants for 4,121,250 shares, which are each exercisable at $0.75 for five years. The strike price is a 39.02% discount to the Sept. 18 closing share price.
The Schaumberg, Ill., company sells sports and nutrition supplements online.
| Issuer: | Wellness Center USA Inc.
|
| Issue: | Restricted common shares
|
| Amount: | $1,648,500
|
| Shares: | 4,121,250
|
| Price: | $0.40
|
| Warrants: | For 4,121,250 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.75
|
| Settlement date: | Sept. 19
|
| Stock symbol: | OTCBB: WCUI
|
| Stock price: | $1.23 at close Sept. 18
|
| Market capitalization: | $50.16 million
|
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