By Angela McDaniels
Tacoma, Wash., April 15 - ZST Digital Networks, Inc. issued $804,000 of series A convertible preferred stock for $1.60 each on April 9, according to an 8-K filing with the Securities and Exchange Commission.
This is the fourth tranche of a $5 million private placement that was announced on Jan. 15.
The company issued 1,097,500 preferreds in the first tranche and 502,500 in the latest tranche.
The preferreds are convertible into common stock at a conversion price of $1.60 per common share.
The private company is based in Zhengzhou, China, and supplies digital and optical network equipment to cable system operators.
| Issuer: | ZST Digital Networks, Inc.
|
| Issue: | Series A convertible preferred stock
|
| Amount: | $5 million
|
| Price: | $1.60
|
| Conversion price: | $1.60
|
| Warrants: | No
|
| Announcement date: | Jan. 15
|
| Settlement date: | Jan. 9 (for $1,756,000); April 9 (for $804,000)
|
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