Deal offers 483,870,968 shares at $0.0124 with three-year warrants
By Devika Patel
Knoxville, Tenn., Feb. 22 - One Horizon Group, Inc. arranged a $6 million private placement of stock on Feb. 18, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company will sell 483,870,968 common shares at $0.0124 per share, which is a 38% discount to the Feb. 15 closing share price of $0.02.
Investors also will receive warrants for 241,935,483 shares, which are each exercisable at $0.0124 for three years. The strike price is also a 38% discount to the Feb. 15 closing price.
The telecommunications company is based in Baar, Switzerland.
| Issuer: | One Horizon Group, Inc.
|
| Issue: | Common stock
|
| Amount: | $6 million
|
| Shares: | 483,870,968
|
| Price: | $0.0124
|
| Warrants: | For 241,935,483 shares
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $0.0124
|
| Warrant purchase price: | $4.42
|
| Pricing date: | Feb. 18
|
| Stock symbol: | OTCBB: OHGI
|
| Stock price: | $0.02 at close Feb. 15
|
| Market capitalization: | $1.06 million
|
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