Deal sells 2 million units of one share, one warrant at $0.25 per unit
By Devika Patel
Knoxville, Tenn., Aug. 26 - Yosen Group Inc. completed a $500,000 private placement of units with Jessie Wong and Wa Cheung on Aug. 23, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 2 million units of one common share and one warrant at $0.25 per unit.
Each warrant is exercisable at $0.25 for three years. The strike price is a 78.57% premium to $0.14, the Aug. 22 closing share price.
Each investor invested $250,000.
The Hangzhou, China, company generates its revenue from resale of electronic items.
| Issuer: | Yosen Group Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $500,000
|
| Units: | 2 million
|
| Price: | $0.25
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $0.25
|
| Investors: | Jessie Wong (for $250,000), Wa Cheung (for $250,000)
|
| Settlement date: | Aug. 23
|
| Stock symbol: | OTCBB: YOSN
|
| Stock price: | $0.14 at close Aug. 22
|
| Market capitalization: | $1.88 million
|
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