Company sells shares, warrants to COO affiliate Wyatts Torch
By Marisa Wong
Morgantown, W.Va., Aug. 25 – MOJO Organics, Inc. raised $150,000 through a private placement of common stock to Wyatts Torch Equity Partners, LP on Aug. 19, according to an 8-K filing with the Securities and Exchange Commission.
Wyatts purchased 750,000 shares of common stock, together with a warrant to acquire a total of 1.5 million shares of common stock at $0.40 per share for a period of five years.
The strike price is a 73.91% premium to the Aug. 18 closing share price of $0.23.
Peter Spinner, the chief operating officer and a director of MOJO, is the managing member of Wyatts.
MOJO is a fruit juice company based in Jersey City, N.J.
| Issuer: | MOJO Organics, Inc.
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| Issue: | Common stock
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| Amount: | $150,000
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| Shares: | 750,000
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| Warrants: | For 1.5 million shares
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| Warrant expiration: | Five years
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| Warrant strike price: | $0.40
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| Investor: | Wyatts Torch Equity Partners, LP
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| Settlement date: | Aug. 19
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| Stock symbol: | OTC: MOJO
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| Stock price: | $0.22 at close Aug. 21
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| Market capitalization: | $3.79 million
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