Holders also will receive quarterly dividend of 10%
By Susanna Moon
Chicago, April 14 - Millennium HealthCare Inc. closed on four units of shares and preferred stock for proceeds of $1,875,000 from Feb. 20 to April 8 in a private placement, according to an 8-K filing with the Securities and Exchange Commission.
Under a subscription agreement, the company will sell units of 1,000 common shares and one share of series G preferred stock, the company noted.
Holders of series G preferreds also will receive a quarterly dividend of 10% of the company's earnings before interest, taxes and amortization.
The series G preferreds will expire or be redeemable for $1,000 immediately after holders of the preferreds have received an aggregate of $1,200 of dividends for every share of preferred they hold.
The issuer is based in Garden City, New York.
| Issuer: | Millennium HealthCare Inc.
|
| Issue: | Units of 1,000 common shares and one share of series G preferred stock
|
| Amount: | $1,875,000
|
| Dividend: | 10%
|
| Settlement dates: | Feb. 20 to April 8
|
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