By Laura Lutz
Des Moines, Oct. 15 - Wentworth II, Inc. settled a private placement of stock and warrants for $6.15 million.
The company sold 4,920,000 common shares at $1.25 each.
The investors also received five-year warrants for 5,412,000 common shares. The warrants are exercisable at $1.5625 per share.
Within 30 days of closing, Wentworth plans to file a registration statement for resale of the shares in the placement. After the registration statement is declared effective, Wentworth plans to seek a quotation of its shares on the Over-the-Counter Bulletin Board.
Omnia Luo Gorup Ltd. just completed a reverse acquisition of Wentworth through a share exchange. Wentworth plans to change its name to OmniaLuo, Inc. later this month.
Omnia Luo is a women's clothing company based in Shenzhen, China.
| Issuer: | Wentworth II, Inc.
|
| Issue: | Stock
|
| Amount: | $6.15 million
|
| Shares: | 4,920,000
|
| Price: | $1.25
|
| Warrants: | For 5,412,000 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $1.5625
|
| Announcement date: | Oct. 15
|
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