Published on 10/21/2014 in the Prospect News Green Finance Daily and Prospect News PIPE Daily.
OneRoof raises $6.5 million through line of credit with two investors
Black Coral, Hanwha also received warrants for 1,107,194 common shares
By Devika Patel
Knoxville, Tenn., Oct. 21 – OneRoof Energy Group, Inc. said it settled a $6.5 million line of credit. The line of credit is part of a $16.7 million debt financing with Black Coral Capital LLC and affiliates of the Hanwha Group.
The investors also received warrants for 1,107,194 common shares. Each warrant will be exercisable at C$1.25 until Dec. 31, 2014. The strike price is identical to the Oct. 20 closing share price.
The solar services provider is based in San Diego.
| Issuer: | OneRoof Energy Group, Inc.
|
| Issue: | Line of credit
|
| Amount: | $6.5 million
|
| Warrants: | For 1,107,194 shares
|
| Warrant expiration: | Dec. 31, 2014
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| Warrant strike price: | C$1.25
|
| Investor: | Black Coral Capital LLC and the Hanwha Group
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| Pricing date: | Oct. 21
|
| Stock symbol: | TSX Venture: ON
|
| Stock price: | C$1.25 at close Oct. 20
|
| Market capitalization: | C$303,120
|
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