By Sheri Kasprzak
New York, Feb. 14 - Cytation Corp. said it has concluded a private placement of series A preferred stock for $5,288,965.
The company issued a total of 528,896.5 preferreds at $10.00 each to institutional investors.
The offering includes the $5,202,735 in preferreds the company issued on Jan. 18. Most recently, the company sold another 8,623 shares of the preferreds.
The full terms of the offering could not be determined by press time Tuesday evening.
In the most recent closing, the investors received series A warrants for 114,974 shares exercisable at $1.50 each and series B warrants for 57,487 shares exercisable at $2.25 each.
Midtown Partners & Co., LLC was the placement agent.
Tampa, Fla.-based Cytation is a holding company for Deer Valley Homebuilders, Inc., which produces manufactured homes.
| Issuer: | Cytation Corp.
|
| Issue: | Series A preferred stock
|
| Amount: | $5,288,965
|
| Shares: | 528,896.5
|
| Price: | $10.00
|
| Warrants: | Series A warrants for 114,974 shares; series B warrants for 57,487 shares
|
| Warrant strike price: | $1.50 for series A; $2.25 for series B
|
| Placement agent: | Midtown Partners & Co., LLC
|
| Settlement date: | Feb. 8
|
| Announcement date: | Feb. 14
|
| Stock symbol: | OTCBB: CYON
|
| Stock price: | $1.91 at close Feb. 14
|
|
|
© 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.
