Deal offers 61 units of 71,500 shares and warrants for 35,750 shares
By Devika Patel
Knoxville, Tenn., Jan. 4 - As Seen On TV, Inc. settled a $4.23 million second and final tranche of a $7.29 million private placement of units on Dec. 28, according to an 8-K filed Friday with the Securities and Exchange Commission. The deal raised $3.05 million on Nov. 14.
The company sold 61 units of 71,500 common shares and warrants for 35,750 shares at $50,050.00 per unit in the first tranche and an additional 84.6 units in the second tranche, for a total of 145.6 units. Accordingly, for each $0.70 invested, investors received one share and a half-share warrant.
The three-year warrants are initially exercisable at $0.80. The strike price is a 3.9% premium to the Nov. 13 closing share price of $0.77.
National Securities Corp. was the agent.
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 71,500 common shares and warrants for 35,750 shares
|
| Amount: | $7,287,280
|
| Units: | 145.6
|
| Price: | $50,050.00
|
| Warrants: | Warrants for 35,750 shares per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $0.80
|
| Agent: | National Securities Corp.
|
| Settlement date: | Nov. 14 (for $3,053,050), Dec. 28 (for $4,234,230)
|
| Stock symbol: | OTCBB: ASTV
|
| Stock price: | $0.77 at close Nov. 13
|
| Market capitalization: | $31.39 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
