Company sells stock in two tranches at $0.28 per share, a 9.68% discount
By Devika Patel
Knoxville, Tenn., March 16 - Conforce International, Inc. settled a second tranche of a private placement of stock on March 14, according to an 8-K filed Wednesday with the Securities and Exchange Commission. The $7.5 million deal priced Dec. 9, and the company raised $6.23 million on Feb. 22; it raised $1.27 million in this closing.
The company sold 22,245,950 common shares at $0.28 apiece in the first tranche and 4,541,765 shares in the second for a total of 26,787,715 shares. The per-share price reflects a 9.68% discount to the closing share price, $0.31, on Dec. 8.
The offering was led by NDB Group Syndications Inc.
Conforce is a Concord, Ont., company that repairs, sells and stores shipping containers.
| Issuer: | Conforce International, Inc.
|
| Issue: | Common stock
|
| Amount: | $7.5 million
|
| Shares: | 26,787,715
|
| Price: | $0.28
|
| Warrants: | No
|
| Investor: | NDB Group Syndications Inc. (lead)
|
| Pricing date: | Dec. 9
|
| Settlement dates: | Feb. 22 (for $6,228,866), March 14 (for $1,271,134)
|
| Stock symbol: | OTCBB: CFRI
|
| Stock price: | $0.31 at close Dec. 8
|
| Market capitalization: | $53.33 million
|
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