Company sells 2 million shares at $0.20 along with four-year warrants
By Devika Patel
Knoxville, Tenn., April 18 - MedeFile International, Inc. settled a $400,000 private placement of stock on April 14, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company sold 2 million common shares at $0.20 per share.
Investors also received warrants for 400,000 shares, each of which is exercisable at $0.20 for four years.
The price per share and warrant strike price are a 78.02% discount to the April 12 closing share price of $0.91.
Cedar Knolls, N.J.-based Medefile has created a system for gathering and digitizing medical records so that individuals can have a record of all of their medical visits.
| Issuer: | MedeFile International, Inc.
|
| Issue: | Common stock
|
| Amount: | $400,000
|
| Shares: | 2 million
|
| Price: | $0.20
|
| Warrants: | For 400,000 shares
|
| Warrant expiration: | Four years
|
| Warrant strike price: | $0.20
|
| Settlement date: | April 14
|
| Stock symbol: | OTCBB: MDFI
|
| Stock price: | $0.91 at close on April 12
|
| Market capitalization: | $6.28 million
|
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