Three-year warrants sold with common shares; units sold at $0.55 each
By Devika Patel
Knoxville, Tenn., June 17 – Legacy Education Alliance, Inc. completed a $527,958 private placement of units, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The company sold 959,924 units of one common share and one warrant at $0.55 per unit.
The warrants are each exercisable at $0.75 for three years. The strike price is a 56.25% premium to the June 16 closing share price of $0.48.
The Cape Coral, Fla., company provides education and mentoring services for investing in real estate and financial instruments.
| Issuer: | Legacy Education Alliance, Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $527,958
|
| Units: | 959,924
|
| Price: | $0.55
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $0.75
|
| Announcement date: | June 17
|
| Stock symbol: | OTCBB: LEAI
|
| Stock price: | $0.48 at close June 16
|
| Market capitalization: | $10 million
|
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