Published on 10/24/2011 in the Prospect News PIPE Daily.
Max Sound takes in $1.86 million via private placement of common stock
Audio technology company sells 18,857,000 common shares at $0.10 each
By Devika Patel
Knoxville, Tenn., Oct. 24 - Max Sound Corp. concluded a $1.86 million private placement of stock on Aug. 2, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 18,857,000 common shares at $0.10 apiece. The price per share is a 66.67% discount to $0.30, the Aug. 1 closing share price.
Based in Houston, Max Sound is an audio technology company.
Issuer: | Max Sound Corp.
|
Issue: | Common stock
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Amount: | $1,857,000
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Shares: | 18,857,000
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Price: | $0.10
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Warrants: | No
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Settlement date: | Aug. 2
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Stock symbol: | OTCBB: MAXD
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Stock price: | $0.40 at close Aug. 2
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Market capitalization: | $223.42 million
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