By Sheri Kasprzak
New York, Jan. 26 - MPLC, Inc. settled a private placement of series A convertible preferred stock for $3.5 million.
The company issued to Trinad Capital Master Fund, Ltd., its controlling shareholder, one share of preferred stock in the offering.
The full terms of the offering were unavailable by press time Friday.
Los Angeles-based MPLC is a shell company seeking out businesses. MPLC recently announced plans to acquire New Motion, Inc., a direct-to-consumer mobile communications content provider.
| Issuer: | MPLC, Inc.
|
| Issue: | Series A convertible preferred stock
|
| Amount: | $3.5 million
|
| Shares: | One
|
| Price: | $3.5 million
|
| Warrants: | No
|
| Investor: | Trinad Capital Master Fund, Ltd.
|
| Settlement date: | Jan. 24
|
| Stock symbol: | OTCBB: MPNC
|
| Stock price: | $0.275 at close Jan. 24
|
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