By Devika Patel
Knoxville, Tenn., June 25 - Options Media Group Holdings, Inc. settled a $3.94 million private placement of units on June 19, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The company sold 13,135,000 units at $0.30 apiece. The units each consist of one common share and one detachable half-share warrant. The whole warrants are exercisable at $0.50 for three years.
Ladenburg Thalmann & Co. Inc. was the agent.
Proceeds were used to finance the cash portion of the company's merger and plan of reorganization.
Options Media, formerly Heavy Metal, Inc., is a private company based in Hallandale, Fla.
| Issuer: | Options Media Group Holdings, Inc.
|
| Issue: | Units of one common share and one detachable half-share warrant
|
| Amount: | $3,940,500
|
| Units: | 13,135,000
|
| Price: | $0.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $0.50
|
| Agent: | Ladenburg Thalmann & Co. Inc.
|
| Settlement date: | June 19
|
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