Company sells 1.5 million shares at $1.00 with 75% warrant coverage
By Devika Patel
Knoxville, Tenn., April 14 – Majesco Entertainment Co. said it plans a $1.5 million registered direct offering of stock. Chardan Capital Markets, LLC is the agent.
The company will sell 1.5 million common shares. The price per share, of $1.00, is a 12.36% premium to the April 13 closing share price of $0.89.
Investors also will receive 75% warrant coverage. Each warrant is exercisable at $1.15 for two years. The strike price is a 29.21% premium to the April 13 closing share price.
Majesco is an Edison, N.J.-based provider of video games and digital entertainment products.
| Issuer: | Majesco Entertainment Co.
|
| Issue: | Common stock
|
| Amount: | $1.5 million
|
| Shares: | 1.5 million
|
| Price: | $1.00
|
| Warrants: | 75% coverage
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $1.15
|
| Agent: | Chardan Capital Markets, LLC
|
| Settlement date: | April 14
|
| Stock symbol: | Nasdaq: COOL
|
| Stock price: | $0.89 at close April 13
|
| Market capitalization: | $10.83 million
|
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