By Sheri Kasprzak
Atlanta, Nov. 10 - Hip Interactive Corp. said Wednesday it has wrapped a C$16 million private placement.
The company sold 14,814,815 shares at about C$1.08 per share to Crescendo Partners II LP.
Crescendo Partners is a New York-based investment management firm.
TD Securities Inc. acted as financial adviser in the offering.
Hip Interactive is a Toronto-based electronic entertainment provider. The company plans to use the proceeds from the private placement to enhance its balance sheet and fund investments in the company's Hip Games and Hip Gear businesses.
| Issuer: | Hip Interactive Corp.
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| Issue: | Stock
|
| Amount: | C$16 million
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| Shares: | 14,814,815
|
| Price: | C$1.08
|
| Warrants: | No
|
| Placement agent: | TD Securities Inc.
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| Investors: | Crescendo Partners II LP
|
| Announcement date: | Nov. 10
|
| Settlement date: | Nov. 10
|
| Stock price: | C$1.35 at close Nov. 10
|
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