Deal sells 169,004 units of four shares, two warrants at $20.00 each
By Devika Patel
Knoxville, Tenn., July 22 - Kirin International Holding, Inc. settled a $3.38 million private placement of stock on July 15, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold 169,004 units of four common shares and two warrants at $20.00 per unit.
The series A warrants are exercisable at $6.25 for three years. The series B warrants are exercisable at $7.50 for three years. The strike prices are 13.64% and 36.36% premiums to the July 12 closing share price of $5.50.
Based in Beijing, Kirin International Holding is a real estate developer.
| Issuer: | Kirin International Holding, Inc.
|
| Issue: | Units of four common shares and two warrants
|
| Amount: | $3,380,080
|
| Units: | 169,004
|
| Price: | $20.00
|
| Warrants: | Two warrants per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $6.25 (series A), $7.50 (series B)
|
| Settlement date: | July 15
|
| Stock symbol: | OTCBB: KIRI
|
| Stock price: | $5.50 at close July 12
|
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