By Devika Patel
Knoxville, Tenn., Sept. 22- Beacon Enterprise Solutions Group, Inc. completed the second tranche of a $3 million private placement of units on Sept. 16, raising $200,000, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company took in $150,000 in the first tranche of the deal on July 31.
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 this one.
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), Sept. 16 (for $200,000)
|
| Stock symbol: | OTCBB: BEAC
|
| Stock price: | $1.50 at close July 31
|
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