Published on 4/2/2008 in the Prospect News PIPE Daily.
New Issue: Empire Resorts to take in $5.18 million from private placement of shares
By Devika Patel
Knoxville, Tenn., April 2 - Empire Resorts, Inc. arranged a $5.18 million private placement of stock on March 31, according to a company news release and an 8-K filed Wednesday with the Securities and Exchange Commission.
The company will sell 4.2 million common shares at $1.233 per share to LRC Acquisition LLC.
Empire Resorts is a Monticello, N.Y., operator of the Monticello Raceway.
| Issuer: | Empire Resorts, Inc.
|
| Issue: | Common shares
|
| Amount: | $5,178,600
|
| Shares: | 4.2 million
|
| Price: | $1.233
|
| Warrants: | No
|
| Investor: | LRC Acquisition LLC
|
| Settlement date: | March 31
|
| Stock symbol: | Nasdaq: NYNY
|
| Stock price: | $1.37 at close March 31
|
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