By Sheri Kasprzak
New York, Dec. 29 - Trans World Corp. said it has completed a private placement of stock for $4,750,119.
The company sold 2,794,188 shares at $1.70 each to five institutional investors.
Proceeds will be used for expansion and improvement of the company's facilities. The remainder will be used for working capital.
Carr Securities Corp. was placement agent.
New York-based Trans World owns and operates four casinos in Europe.
| Issuer: | Trans World Corp.
|
| Issue: | Stock
|
| Amount: | $4,750,119
|
| Shares: | 2,794,188
|
| Price: | $1.70
|
| Warrants: | No
|
| Placement agent: | Carr Securities Corp.
|
| Settlement date: | Dec. 29
|
| Stock price: | $1.70 at close Dec. 28
|
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