By Sheri Kasprzak
Atlanta, Jan. 5 - Quepasa Corp. said it has wrapped up a previously announced private placement for $3 million.
The company sold 500,000 units at $6 each. The units are comprised of two shares and one four-tenths of a warrant.
The whole warrants allow for an additional share at $4.50 each for two years.
Investors in the offering included Talkot Capital, Riggs Partners, Paulson Investment Corp. and Penfield Partners.
The pricing of the units was decreased from $6.25 to $6. The offering, announced Nov. 30, was originally planned for up to $3.125 million.
Based in Phoenix, Quepasa provides paid search engine services for the Latin American community.
| Issuer: | Quepasa Corp.
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| Issue: | Units of two shares and four-tenths of a warrant
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| Amount: | $3 million
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| Shares: | 500,000 units
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| Price: | $6.00
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| Warrants: | Four-tenths of a warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | $4.50
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| Pricing date: | Nov. 30
|
| Settlement date: | Jan. 5
|
| Stock price: | $3.69 at close Nov. 30
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| Stock price: | $3.50 at close Jan. 5
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