By Laura Lutz
Des Moines, Jan. 18 - Amacore Group, Inc. arranged a $3 million private placement of convertible preferred stock with Vicis Capital Master Fund, according to an 8-K filing with the Securities and Exchange Commission.
The company agreed to sell 300 shares of its series G convertible preferred stock for $10,000 per preferred share.
The preferreds bear dividends at 6% per year, payable quarterly. They are convertible into class A common stock at $5.00 per common share.
Tampa, Fla.-based Amacore provides vision care benefits.
| Issuer: | Amacore Group, Inc.
|
| Issue: | Series G convertible preferred stock
|
| Amount: | $3 million
|
| Shares: | 300
|
| Dividend: | 6%
|
| Price: | $10,000
|
| Conversion price: | $5.00
|
| Warrants: | No
|
| Investor: | Vicis Capital Master Fund
|
| Pricing date: | Jan. 14
|
| Stock symbol: | OTCBB: ACGI
|
| Stock price: | $0.45 at close Jan. 14
|
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