Investor Laddcap also gets warrants; deal expected to settle Nov. 24
By Devika Patel
Knoxville, Tenn., Nov. 22 - MGT Capital Investments, Inc. arranged a private placement of stock with Laddcap Value Partners III, LLC on Nov. 16, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company will sell 6.5 million common shares at $0.20 per share to the investor for $1.3 million. The price per share reflects a 20% discount to the Nov. 15 closing share price of $0.25.
Laddcap also will receive a five-year warrant for 6.5 million shares, which is exercisable at $0.20.
Settlement is expected on Nov. 24.
MGT Capital is a health care holding company based in London.
| Issuer: | MGT Capital Investments, Inc.
|
| Issue: | Common stock
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| Amount: | $1.3 million
|
| Shares: | 6.5 million
|
| Price: | $0.20
|
| Warrants: | For 6.5 million shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.20
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| Investor: | Laddcap Value Partners III, LLC
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| Pricing date: | Nov. 16
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| Settlement date: | Nov. 24
|
| Stock symbol: | Amex: MGT
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| Stock price: | $0.23 at close Nov. 16
|
| Market capitalization: | $7.2 million
|
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