Company sells 774,720 shares at $9.75 per share; Taglich was the agent
By Devika Patel
Knoxville, Tenn., Dec. 11 – BG Staffing, Inc. completed a $7.55 million private placement of stock on Dec. 10, according to an 8-K filed Thursday with the Securities and Exchange Commission. Taglich Brothers, Inc. was the agent.
The company sold 774,720 common shares at $9.75 per share. The price per share reflects an 18.68% discount to the Dec. 9 closing share price of $11.99.
Proceeds will be used to repay debt under the company’s revolving credit facility.
The Plano, Texas, company provides temporary staffing services.
| Issuer: | BG Staffing, Inc.
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| Issue: | Common stock
|
| Amount: | $7,553,520
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| Shares: | 774,720
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| Price: | $9.75
|
| Warrants: | No
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| Agent: | Taglich Brothers, Inc.
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| Settlement date: | Dec. 10
|
| Stock symbol: | NYSE: BGSF
|
| Stock price: | $11.99 at close Dec. 9
|
| Market capitalization: | $67.24 million
|
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