Stock offering allows investor to appoint up to five board members
By Devika Patel
Knoxville, Tenn., July 11 - LiveDeal, Inc. signed a non-binding term sheet for a $1.5 million private placement of stock on July 5, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company will sell 600,000 common shares to a single investor in Japan at $2.50 per share. The price per share is a 14.09% discount to the July 1 closing share price of $2.91.
The investor also may appoint up to five members of the company's board of directors.
Based in Mesa, Ariz., LiveDeal provides local customer acquisition services for small businesses.
| Issuer: | LiveDeal, Inc.
|
| Issue: | Common shares
|
| Amount: | $1.5 million
|
| Shares: | 600,000
|
| Price: | $2.50
|
| Warrants: | No
|
| Pricing date: | July 5
|
| Stock symbol: | Nasdaq: LIVE
|
| Stock price: | $2.98 at close July 5
|
| Market capitalization: | $2 million
|
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