By Sheri Kasprzak
New York, Jan. 6 - Health Benefits Direct Corp. has revealed the particulars of its previously announced $3.75 million private placement of units.
The company issued 75 units at $50,000 each to accredited investors.
The units include 50,000 shares and a warrant for 25,000 shares.
The warrants are exercisable at $1.50 each for three years.
The offering was first announced without details on Dec. 13.
The Keystone Equities Group, Inc. was the placement agent.
Proceeds will be used for debt repayment, acquisitions and working capital.
Based in Pompano Beach, Fla., Health Benefits Direct is a health insurance company.
| Issuer: | Health Benefits Direct Corp.
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| Issue: | Units of 50,000 shares and warrants for 25,000 shares
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| Amount: | $3.75 million
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| Units: | 75
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| Price: | $50,000
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| Warrants: | For 25,000 shares per unit
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| Warrant expiration: | Three years
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| Warrant strike price: | $1.50
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| Placement agent: | The Keystone Equities Group, Inc.
|
| Settlement date: | Dec. 30
|
| Announcement date: | Jan. 6
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| Stock price: | $2.75 at close Jan. 6
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