Company sells 50,000 of its common shares at $8.32 apiece in offering
By Devika Patel
Knoxville, Tenn., Dec. 16 – HPIL Holding amended the price per preferred of a private placement of series 1 class P-2 treasury convertible preferred stock on Dec. 15, according to an announcement. The deal priced June 12 and settled on June 23 for $350,000 but has since been increased to $416,000 due to the adjusted price.
The company sold 50,000 preferreds at $8.32 per preferred, which is a 0.95% discount to the closing share price of $8.40 on June 20. The preferreds originally were priced at $7.00 apiece, a 16.67% discount to the closing price on June 20.
HPIL Holding is a holding company in Saginaw, Mich., that is focused on making investments in companies.
| Issuer: | HPIL Holding
|
| Issue: | Series 1 class P-2 treasury convertible preferred stock
|
| Amount: | $416,000
|
| Shares: | 50,000
|
| Price: | $8.32
|
| Warrants: | No
|
| Pricing date: | June 12
|
| Settlement date: | June 23
|
| Stock symbol: | OTCBB: HPIL
|
| Stock price: | $8.40 at close June 20
|
| Market capitalization: | $521.16 million
|
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