By Sheri Kasprzak
New York, July 6 - Aftersoft Group, Inc. completed a $2.5 million private placement.
The company sold 5,208,333 units at $0.48 each.
The units include one share and one warrant. The warrants are exercisable at $1.00 each for six years.
W. Quillen Securities was the placement agent.
Proceeds will be used for general corporate purposes.
The offering is the first closing of a planned $10 million placement set to close Aug. 31.
New York-based Aftersoft develops software for the automotive aftermarket sector.
Issuer: | Aftersoft Group, Inc.
|
Issue: | Units of one share and one half-share warrant
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Amount: | $2.5 million
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Units: | 5,208,333
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Price: | $0.48
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Warrants: | One half-share warrant per unit
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Warrant expiration: | Six years
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Warrant strike price: | $1.00
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Placement agent: | W. Quillen Securities
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Settlement date: | July 2
|
Stock symbol: | OTCBB: ASFG
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Stock price: | $0.47 at close July 2
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