Investor Wigam will buy 12.5 million common shares at $0.08 per share
By Devika Patel
Knoxville, Tenn., Aug. 24 - Win Gaming Media, Inc. arranged a $1 million private placement of stock with Wigam LLC on Aug. 22, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The company will sell 12.5 million common shares at $0.08 per share, a 27.27% discount to the Aug. 19 closing share price of $0.11.
The investor will also receive warrants for 6.25 million shares, which are each exercisable at $0.08 for five years. The strike price also represents a 27.27% discount to the Aug. 19 closing share price.
Settlement is expected on Aug. 31.
Win Gaming Media, based in Wilmington, Del., offers technology servicing the interactive gaming industry.
| Issuer: | Win Gaming Media, Inc.
|
| Issue: | Common shares
|
| Amount: | $1 million
|
| Shares: | 12.5 million
|
| Price: | $0.08
|
| Warrants: | For 6.25 million shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.08
|
| Investor: | Wigam LLC
|
| Pricing date: | Aug. 22
|
| Settlement date: | Aug. 31
|
| Stock symbol: | OTCBB: WGMI
|
| Stock price: | $0.11 at close Aug. 22
|
| Market capitalization: | $3.97 million
|
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