Company will sell 850,000 common shares at $10.18 per share in deal
By Devika Patel
Knoxville, Tenn., Dec. 19 - Andina Acquisition Corp. negotiated an $8.65 million private placement of stock on Dec. 19, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company will sell 850,000 common shares. The price per share, of $10.18, is a 4.63% discount to the Dec. 18 closing share price of $1.08.
Andina is a Bogota, Colombia, company seeking to acquire businesses in the Andean region of South America and in Central America with a principal focus on Colombia.
| Issuer: | Andina Acquisition Corp.
|
| Issue: | Common stock
|
| Amount: | $8,653,000
|
| Shares: | 850,000
|
| Price: | $10.18
|
| Warrants: | No
|
| Pricing date: | Dec. 19
|
| Stock symbol: | Nasdaq: ANDA
|
| Stock price: | $1.03 at close Dec. 18
|
| Market capitalization: | $12.76 million
|
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