Five-year warrants included in equity units; units sold at $0.35 each
By Devika Patel
Knoxville, Tenn., Dec. 27 - Aspen Group, Inc. settled a $320,000 private placement of units on Dec. 18 and Dec. 21, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 914,286 units of one common share and a half-share warrant at $0.35 per unit.
The whole warrants are each exercisable at $0.50 for five years. The strike price reflects a 35.07% discount to the Dec. 24 closing share price of $0.77.
The Denver-based company offers business consulting, real estate development and investment services.
| Issuer: | Aspen Group, Inc.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | $320,000
|
| Units: | 914,286
|
| Price: | $0.35
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.50
|
| Settlement date: | Dec. 18, Dec. 21
|
| Stock symbol: | OTCBB: ASPU
|
| Stock price: | $0.77 at close Dec. 24
|
| Market capitalization: | $44.24 million
|
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