Offering includes warrants; Leslie G. Rudd Living Trust is investor
By Devika Patel
Knoxville, Tenn., Feb. 5 – 4Licensing Corp. settled a $500,000 private placement of stock with Leslie G. Rudd Living Trust on Jan. 30, according to an 8-K filed Thursday with the Securities and Exchange Commission. It may raise up to a total of $4.5 million.
The company sold 769,381 common shares at $0.65 per share, which is a 14.04% premium to the Feb. 4 closing share price of $0.57.
The trust also received warrants for 1,538,462 shares. Each warrant is exercisable at $0.72, a 26.32% premium to the Feb. 4 closing price.
The New York company licenses merchandising rights, properties and product concepts with a focus on youth-oriented and specialty markets.
Issuer: | 4Licensing Corp.
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Issue: | Common shares
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Amount: | $500,000
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Shares: | 769,381
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Price: | $0.65
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Warrants: | For 1,538,462 shares
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Warrant strike price: | $0.72
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Investor: | Leslie G. Rudd Living Trust
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Announcement date: | Feb. 5
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Settlement date: | Jan. 30
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Stock symbol: | OTCBB: FOUR
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Stock price: | $0.57 at close Feb. 4
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Market capitalization: | $7.88 million
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