By Sheri Kasprzak
Atlanta, Jan. 7 - Workstream Inc. closed a private placement of stock for an additional $990,000.
The company sold 330,000 shares at $3 each to complete a $15 million offering.
The investor in the deal, J. Steven Emerson Roth IRA, also received warrants for 165,000 shares at $3.50 each.
The company had closed a $14 million portion of the deal on Dec. 17.
Worksteam, based in New York and Ottawa, Ont., provide recruitment and employee services to companies. It plans to use the proceeds from the deal to strengthen its balance sheet and provide additional working capital for its growth strategy, including product development, international expansion and targeted strategic acquisitions.
| Issuer: | Workstream Inc.
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| Issue: | Stock
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| Amount: | $990,000
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| Shares: | 330,000
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| Price: | $3.00
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| Warrants: | For 165,000 shares
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| Settlement date: | Jan. 3
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| Stock price: | $3.62 at close Jan. 3
|
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