By Sheri Kasprzak
New York, July 11 - Zagg Inc. sealed a $1.3 million private placement.
The company issued 1.3 million shares in the offering to a group of institutional investors.
The investors also received warrants for 650,000 shares, exercisable at $1.30 each for five years.
Empire Financial Group was the placement agent.
As part of the offering, the investors have the right to participate in any subsequent financing for the next year.
Based in Salt Lake City, Zagg develops iPod accessories.
| Issuer: | Zagg Inc.
|
| Issue: | Stock
|
| Amount: | $1.3 million
|
| Shares: | 1.3 million
|
| Price: | $1.00
|
| Warrants: | For 650,000 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $1.30
|
| Placement agent: | Empire Financial Group
|
| Settlement date: | July 10
|
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