Offering includes warrants; company sells 342,467 shares at $0.73 each
By Devika Patel
Knoxville, Tenn., March 10 – 4Licensing Corp. settled a $250,000 private placement of stock on March 4, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The company sold 342,467 common shares at $0.73 per share, which is a 33.64% discount to the March 3 closing share price of $1.10.
The investor also received 10-year warrants for 684,934 shares. Each warrant is exercisable at $0.82, a 25.46% discount to the March 3 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.
|
| Issue: | Common shares
|
| Amount: | $250,000
|
| Shares: | 342,467
|
| Price: | $0.73
|
| Warrants: | For 684,934 shares
|
| Warrant expiration: | 10 years
|
| Warrant strike price: | $0.82
|
| Settlement date: | March 4
|
| Stock symbol: | OTCBB: FOUR
|
| Stock price: | $1.10 at close March 3
|
| Market capitalization: | $14.48 million
|
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