Company sells units of shares, warrants in two tranches at $0.50 each
By Devika Patel
Knoxville, Tenn., Jan. 5 - National Holdings Corp. completed a second tranche of a private placement of units on Dec. 31, according to an 8-K filed Thursday with the Securities and Exchange Commission. It raised $1.04 million on Dec. 13 and $275,000 in the latest tranche.
The company sold 2.07 million units of one common share and one warrant at $0.50 apiece in the initial tranche and 550,000 units at that price in the second tranche.
Each warrant is exercisable at $0.50 for five years. The strike price is a 42.86% premium to $0.35, the Dec. 10 closing share price.
New York-based National Holdings is the holding company for National Securities Corp., National Insurance Corp. and National Holdings Mortgage Corp.
| Issuer: | National Holdings Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $1.31 million
|
| Units: | 2.62 million
|
| Price: | $0.50
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.50
|
| Settlement date: | Dec. 13 (for $1,035,000), Dec. 31 (for $275,000)
|
| Stock symbol: | OTCBB: NHLD
|
| Stock price: | $0.35 at close Dec. 10
|
| Market capitalization: | $6.78 million
|
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