New Issue: Beacon prices $3 million private placement of units

By Devika Patel

Knoxville, Tenn., July 16 - Beacon Enterprise Solutions Group, Inc. arranged a $3 million private placement of units, according to an 8-K filed Wednesday with the Securities and Exchange Commission.

Beacon will sell up to 30 units at $100,000 apiece. Each unit consists of 100 series B preferred shares and a five-year warrant to buy 50,000 common shares at $1.20 per share.

If the deal is oversubscribed, the company may sell an additional 4.5 units for $450,000.

On July 10, Beacon sold 4 units for $400,000 to John D. Rhodes, a company director.

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

Issuer:	Beacon Enterprise Solutions Group, Inc.
Issue:	Units of 100 series B preferred shares and a warrant to buy 50,000 common shares
Amount:	$3 million
Greenshoe:	$450,000, or 4.5 units
Units:	30
Price:	$100,000
Warrants:	One warrant for 50,000 shares per unit
Warrant expiration:	Five years
Warrant strike price:	$1.20
Investor:	John D. Rhodes (for $400,000)
Settlement date:	July 10 (for $400,000)
Stock symbol:	OTCBB: BEAC
Stock price:	$1.01 at close July 11

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