Deal sells units of one share, 2.5 two-year warrants at $0.10 per unit
By Devika Patel
Knoxville, Tenn., Jan. 21 – Bitcoin Shop, Inc. settled a $433,000 private placement of units on Jan. 19, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The company sold 4.33 million units of one common share and 2.5 warrants at $0.10 per unit.
The two-year warrants are each exercisable at $0.10 per share, a 25% premium to the Jan. 16 closing share price of $0.08.
Chief executive officer Charles Allen and chief operating officer Michal Handerhan each purchased 50,000 units for $5,000 apiece.
The Arlington, Va., company sells merchandise that may be purchased with virtual currencies.
| Issuer: | Bitcoin Shop, Inc.
|
| Issue: | Units of one common share and 2.5 warrants
|
| Amount: | $433,000
|
| Units: | 4.33 million
|
| Price: | $0.10
|
| Warrants: | 2.5 warrants per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $0.10
|
| Investors: | Charles Allen (for $5,000), Michal Handerhan (for $5,000)
|
| Settlement date: | Jan. 19
|
| Stock symbol: | Nasdaq: BTCS
|
| Stock price: | $0.08 at close Jan. 16
|
| Market capitalization: | $10.67 million
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
