By Sheri Kasprzak
New York, Dec. 13 - Whitney Information Network, Inc. said it has settled a private placement for $13.5 million.
The company sold 3 million units at $4.50 each to 16 institutional investors led by Prides Capital Partners, LLC.
The units include one share and one half-share warrant. The whole warrants are exercisable at $6.00 each.
The company's chief executive officer bought 1.25 million of the units.
Noble Investments International, Inc. was the placement agent.
Whitney Information Networks, based in Cape Coral, Fla., provides post-secondary education on real estate investment, stock trading and business development.
| Issuer: | Whitney Information Network, Inc.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | $13.5 million
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| Units: | 3 million
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| Price: | $4.50
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| Warrants: | One half-share warrant per unit
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| Warrant strike price: | $6.00
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| Investors: | Prides Capital Partners, LLC (lead)
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| Placement agent: | Noble Investments International, Inc.
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| Settlement date: | Dec. 13
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| Stock price: | $5.80 at close Dec. 12
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