Offering includes warrant coverage; common shares sold at $2.25 apiece
By Devika Patel
Knoxville, Tenn., Sept. 15 – Adaptive Medias Inc. settled an $825,000 private placement of stock between July 11 and Aug. 27 and a $4 million private placement of stock on Sept. 3, according to an 8-K filed Monday with the Securities and Exchange Commission.
In the first sale, the company sold 366,668 common shares at $2.25 per share. It sold 1,777,778 shares at the same price to a lone investor in the second deal.
The investors in the first placement also received warrants for 366,668 shares. Each warrant is exercisable at $3.00 for five years.
The Irvine, Calif., company provides app developers, publishers and video content developers with monetization platforms.
| Issuer: | Adaptive Medias Inc.
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| Issue: | Common shares
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| Amount: | $4,825,000
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| Shares: | 2,144,446
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| Price: | $2.25
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| Warrants: | For 366,668 shares
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| Warrant expiration: | Five years
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| Warrant strike price: | $3.00
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| Settlement date: | July 11 to Aug. 27, Sept. 3
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| Stock symbol: | OTCBB: ADTM
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| Stock price: | $0.08 at close July 10
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| Market capitalization: | $30.91 million
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