4,545,454 shares sold to Beijing Sun Seven Stars Culture Development
By Devika Patel
Knoxville, Tenn., Nov. 24 – YOU On Demand Holdings, Inc. settled a $10 million private placement of common stock with Beijing Sun Seven Stars Culture Development Ltd. on Nov. 23, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The company sold 4,545,454 shares at $2.20 apiece, which is a 5.77% premium to the Nov. 20 closing share price of $2.08.
Beijing Sun Seven Stars also received warrants for 1,818,182 shares, which are each exercisable at $2.75 for two years. The strike price is a 32.21% premium to the Nov. 20 closing share price.
The New York-based company is a national pay-per-view and video-on-demand platform in China.
| Issuer: | YOU On Demand Holdings, Inc.
|
| Issue: | Common stock
|
| Amount: | $10 million
|
| Shares: | 4,545,454
|
| Price: | $2.20
|
| Warrants: | For 1,818,182 shares
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $2.75
|
| Investor: | Beijing Sun Seven Stars Culture Development Ltd.
|
| Settlement date: | Nov. 23
|
| Stock symbol: | Nasdaq: YOD
|
| Stock price: | $2.08 at close Nov. 20
|
| Market capitalization: | $46.77 million
|
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