Units of one share, one quarter-share warrant sold via Emerging Growth
By Devika Patel
Knoxville, Tenn., March 19 – Mobivity Holdings Corp. raised $900,000 in the second and final tranche of a $4.81 million private placement of units on March 13, according to an 8-K filed Thursday with the Securities and Exchange Commission. The deal priced for $4 million on March 2, when the company raised $3.91 million in the initial tranche.
The company sold 4,805,000 units of one common share and one quarter-share warrant at $1.00 per unit. It sold 3,905,000 units in the first tranche and 900,000 units in the second tranche.
Each whole warrant is exercisable at $1.20 for five years. The strike price is a 7.14% premium to $1.12, the Feb. 27 closing share price.
The offering was conducted with 24 investors by agent Emerging Growth Equities, Ltd.
The technology provider is based in Chandler, Ariz.
| Issuer: | Mobivity Holdings Corp.
|
| Issue: | Units of one common share and one quarter-share warrant
|
| Amount: | $4,805,000
|
| Units: | 4,805,000
|
| Price: | $1.00
|
| Warrants: | One quarter-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $1.20
|
| Agent: | Emerging Growth Equities, Ltd.
|
| Pricing date: | March 2
|
| Settlement dates: | March 2 (for $3,905,000), March 13 (for $900,000)
|
| Stock symbol: | OTCBB: MFON
|
| Stock price: | $1.12 at close Feb. 27
|
| Market capitalization: | $27.21 million
|
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