New Issue: Beacon sells $50,000 units in sixth tranche of private placement

By Devika Patel

Knoxville, Tenn., Oct. 7 - Beacon Enterprise Solutions Group, Inc. raised $50,000 in the sixth tranche of a $3 million private placement of units on Oct. 3, according to an 8-K filed Tuesday with the Securities and Exchange Commission.

The company took in $150,000 in the first tranche of the deal on July 31 and the second tranche settled for $200,000 on Aug. 7. The company raised $300,000 on Aug. 19, $450,000 on Sept. 3 and another $200,000 on Sept. 16,

Beacon plans to sell a total of 3.75 million units of one common share and one warrant at $0.80 per unit. There is a greenshoe of $450,000, or 562,500 units.

Each warrant is exercisable at $1.00 per share for five years.

The company sold 187,500 units in the first tranche and 250,000 units in the second. It sold 375,000 units in the third tranche, 562,500 units in the fourth tranche, 250,000 units in the fifth tranche and 62,500 units in this tranche.

Beacon is a Louisville, Ky.-based communications company.

Issuer:	Beacon Enterprise Solutions Group, Inc.
Issue:	Units of one common share and one warrant
Amount:	$3 million
Greenshoe:	$450,000, or 562,500 units
Units:	3.75 million
Price:	$0.80
Warrants:	One warrant per unit
Warrant expiration:	Five years
Warrant strike price:	$1.00
Settlement date:	July 31 (for $150,000), Aug. 7 (for $200,000), Aug. 19 (for $300,000), Sept. 3 (for $450,000), Sept. 16 (for $200,000), Oct. 3 (for $50,000)
Stock symbol:	OTCBB: BEAC
Stock price:	$1.50 at close July 31

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