Deal sells 3 million series C convertible preferreds at $0.03333 each
By Devika Patel
Knoxville, Tenn., Aug. 3 – Great Plains Holdings, Inc. completed a $99,990 private placement of series C convertible preferred stock on July 29, according to an 8-K filed Monday with the Securities and Exchange Commission. The deal priced on July 28.
The company sold 3 million preferreds at $0.03333 apiece, a 52.39% discount to the July 27 closing share price of $0.07.
Each preferred is initially convertible into eight common shares.
Based in Wildwood, Fla., the company operates through two wholly owned subsidiaries, Ashland Holdings, LLC and Lil Marc, Inc. Ashland is focused on the real estate sector, and Lil Marc makes a training urinal for toddler boys.
| Issuer: | Great Plains Holdings, Inc.
|
| Issue: | Series C convertible preferred stock
|
| Amount: | $99,990
|
| Preferreds: | 3 million
|
| Price: | $0.03333
|
| Conversion ratio: | Into eight common shares (per preferred)
|
| Warrants: | No
|
| Pricing date: | July 28
|
| Settlement date: | July 29
|
| Stock symbol: | OTCBB: GTPH
|
| Stock price: | $0.07 at close July 27
|
| Market capitalization: | $565,870
|
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