7.5 million common shares are being sold at $0.20 by Emerging Growth
By Devika Patel
Knoxville, Tenn., July 3 - Mobivity Holdings Corp. completed the $1.56 million second and third tranches of a $7.5 million private placement of stock on June 27 and June 28, according to an 8-K filed Thursday with the Securities and Exchange Commission. Emerging Growth Equities, Ltd. is the agent for the deal, which raised $5.8 million on June 17.
The company is selling 37.5 million common shares at $0.20 apiece, which is a 33.33% discount to the $0.30 closing price of the stock on June 14. It sold 28,975,000 shares in the initial tranche and 7,805,000 shares in the second and third tranches.
The private technology provider is based in Chandler, Ariz.
Issuer: | Mobivity Holdings Corp.
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Issue: | Common stock
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Amount: | $7.5 million
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Shares: | 37.5 million
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Price: | $0.20
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Warrants: | No
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Agent: | Emerging Growth Equities, Ltd.
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Settlement dates: | June 17 (for $5,795,000), June 27 and June 28 (for $1,561,000)
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Stock symbol: | OTCBB: MFON
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Stock price: | $0.30 at close June 14
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Market capitalization: | $9.29 million
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