Company sells 238,096 common shares at $10.50 per share in offering
By Devika Patel
Knoxville, Tenn., Aug. 12 - MusclePharm Corp. said it completed a $2.5 million private placement of stock. The Frost Group, LLC was the lead investor.
The company sold 238,096 restricted common shares at $10.50 per share. The price per share reflects a 14.98% discount to the Aug. 9 closing share price of $12.35.
MusclePharm develops sports nutrition products and is based in Denver.
| Issuer: | MusclePharm Corp.
|
| Issue: | Restricted common stock
|
| Amount: | $2.5 million
|
| Shares: | 238,096
|
| Price: | $10.50
|
| Warrants: | No
|
| Investor: | The Frost Group, LLC (lead)
|
| Settlement date: | Aug. 12
|
| Stock symbol: | OTCBB: MSLP
|
| Stock price: | $12.35 at close Aug. 9
|
| Market capitalization: | $90.63 million
|
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