By Sheri Kasprzak
Atlanta, Dec. 1 - Walker Financial Corp. has reached an agreement to raise up to $6 million through the private placement of common stock.
The company will sell up to 60 million common shares at up to $0.10 each to Fusion Capital Fund II LLC, according to an agreement signed by both companies on Nov. 24.
The offering will be conducted over two years. The exact pricing of the offering will be based on the market price for a specified period before the sale date.
Walker Financial, based in Garden City, N.Y., provides record keeping and management services for funeral homes and cemeteries.
The company's stock closed at $0.75 Nov. 24 and at $0.58 Nov. 30.
| Issuer: | Walker Financial Corp.
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| Issue: | Stock
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| Amount: | $6 million (maximum)
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| Shares: | 60 million (maximum)
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| Price: | $0.10
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| Warrants: | No
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| Investors: | Fusion Capital Fund II LLC
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| Pricing date: | Nov. 24
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| Announcement date: | Dec. 1
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| Stock price: | $0.75 at close Nov. 24
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| Stock price: | $0.58 at close Nov. 30
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