Deal sells 243.1 units of 62,500 shares and warrants for 62,500 shares
By Devika Patel
Knoxville, Tenn., Nov. 3 - As Seen On TV, Inc. settled a $12.16 million private placement of stock on Oct. 28, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company sold 243.1 units of 62,500 common shares and warrants for 62,500 shares at $50,000.00 per unit.
The warrants are exercisable at $1.00 for five years. The strike price is a 33.33% discount to the Oct. 27 closing share price of $1.50.
Proceeds will be used to purchase product inventory, for sales initiatives and general working capital.
Based in South Pasadena, Calif., As Seen On TV identifies, develops and markets consumer products for global distribution.
| Issuer: | As Seen On TV, Inc.
|
| Issue: | Units of 62,500 common shares and warrants for 62,500 shares
|
| Amount: | $12,155,000
|
| Units: | 243.1
|
| Price: | $50,000.00
|
| Warrants: | Warrants for 62,500 shares per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $1.00
|
| Settlement date: | Oct. 28
|
| Stock symbol: | Pink Sheets: HNHID
|
| Stock price: | $1.25 at close Oct. 28
|
| Market capitalization: | $10.01 million
|
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