By Sheri Kasprzak
New York, March 24 - Logicom Inc. said it has closed a $2.37 million private placement of units following its share exchange with Skin Shoes Inc.
The company sold 2,821,428 units at $0.84 each.
The units include one share and one warrant with each warrant exercisable at $1.00 for 30 months.
The company already completed a private placement on Nov. 2, 2005, for $2.52 million, selling 3 million units under the same terms.
Under the terms of the share exchange, Logicom agreed to acquire all of the outstanding shares of Skins in exchange for shares of its common stock.
Skins develops orthopedic shoes.
Based in New York, Logicom supplies interactive web-based content for a variety of sectors.
Issuer: | Logicom Inc.
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Issue: | Units of one share and one warrant
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Amount: | $2.37 million
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Units: | 2,821,428
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Price: | $0.84
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Warrants: | One warrant per unit
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Warrant expiration: | 30 months
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Warrant strike price: | $1.00
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Settlement date: | March 20
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Stock symbol: | OTCBB: LGIM
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Stock price: | $0.90 at close March 20
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