By Sheri Kasprzak
New York, Jan. 27 - Kuhlman Co., Inc. said it has completed a non-brokered private placement for $4,387,500.
The company issued to seven accredited investors 1.95 million shares at $2.25 each.
The investors received warrants for 390,000 shares, exercisable at $2.75 each for three years.
The deal was completed in two tranches - the first on Jan. 20 for 250,000 shares and the second on Jan. 24 for 1.7 million shares
Based in Minneapolis, Kuhlman operates retail clothing outlets.
| Issuer: | Kuhlman Co., Inc.
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| Issue: | Stock
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| Amount: | $4,387,500
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| Shares: | 1.95 million
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| Price: | $2.25
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| Warrants: | For 390,000 shares
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| Warrant expiration: | Three years
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| Warrant strike price: | $2.75
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| Settlement date: | Jan. 24
|
| Stock symbol: | OTCBB: KHLM
|
| Stock price: | $2.50 at close Jan. 24
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