Series A-1, series A-2 preferreds sold through agent Macquarie Capital
By Devika Patel
Knoxville, Tenn., March 14 - CiG Wireless Corp. settled a $3 million tranche of a $35 million private placement of 9% series A-1 non-convertible preferred stock and series A-2 convertible preferred stock on March 7, according to an 8-K filed Friday with the Securities and Exchange Commission. The deal was announced Aug. 6.
Fir Tree Capital Opportunity (LN) Master Fund, LP and Fir Tree REF III Tower LLC bought 30,000 series A-1 preferreds and 3,230,442 series A-2 preferreds.
Macquarie Capital (USA) Inc. was the agent.
The series A-2 preferreds are convertible into common shares on a one-for-one basis.
The wireless communications provider is based in Atlanta.
| Issuer: | CiG Wireless Corp.
|
| Issue: | Series A-1 non-convertible preferred stock, series A-2 convertible preferred stock
|
| Amount: | $35 million
|
| Dividends: | 9% (series A-1)
|
| Conversion ratio: | One for one basis (series A-2)
|
| Warrants: | No
|
| Agent: | Macquarie Capital (USA) Inc.
|
| Investor: | Fir Tree Capital Opportunity (LN) Master Fund, LP and Fir Tree REF III Tower LLC
|
| Announcement date: | Aug. 6
|
| Settlement date: | March 7 (for $3 million)
|
| Stock symbol: | OTCBB: CIGW
|
| Stock price: | $3.00 at close July 31
|
| Market capitalization: | $39.91 million
|
© 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.
