Laddcap buys stock at 38.8% discount to closing price in revised deal
By Devika Patel
Knoxville, Tenn., Dec. 14 - MGT Capital Investments, Inc. revised the terms of a private placement of stock with Laddcap Value Partners III, LLC on Dec. 9 according to an 8-K filed Monday with the Securities and Exchange Commission. The deal priced for $1.3 million on Nov. 16 and raised $1 million on Dec. 13.
The company sold 6.5 million common shares at about $0.153 per share to the investor. The price per share reflects a 38.8% discount to the Nov. 15 closing share price of $0.25.
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 million
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| Shares: | 6.5 million
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| Price: | $0.153 (approximate)
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| Warrants: | No
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| Investor: | Laddcap Value Partners III, LLC
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| Pricing date: | Nov. 16
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| Revised: | Dec. 9
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| Settlement date: | Dec. 13
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| Stock symbol: | Amex: MGT
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| Stock price: | $0.23 at close Nov. 16
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| Market capitalization: | $7.81 million
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