Published on 11/4/2004 in the Prospect News PIPE Daily.
New Issue: Synergy Brands releases details on $1.5 million private placement
By Sheri Kasprzak
Atlanta, Nov. 4 - Synergy Brands Inc. released additional details Thursday on its previously announced $1.5 million private placement.
The deal, which closed Nov. 1, consists of 15 units of 10,000 shares of non-convertible class B series A preferred stock and 15,000 shares of restricted common stock at $100,000 per unit.
Based in Melville, N.Y., Synergy is a holding company for wholesale and internet distribution consumer goods. The company plans to use the proceeds for working capital.
| Issuer: | Synergy Brands Inc.
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| Issue: | Units of class B series A preferred stock and restricted common stock
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| Amount: | $1.5 million
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| Shares: | Units of 10,000 shares of class B series A preferred shares and 15,000 shares of restricted common stock
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| Price: | $100,000 per unit
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| Warrants: | No
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| Settlement date: | Nov. 1
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| Stock price: | $1.70 at close Nov. 1
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