By Devika Patel
Knoxville, Tenn., Oct. 2 - Beacon Enterprise Solutions Group, Inc. arranged a $3 million private placement of units on Dec. 30, according to an 8-K filed Friday with the Securities and Exchange Commission.
Beacon plans to sell a total of 3.75 million units of one common share and one half-share warrant at $0.80 per unit. There is a greenshoe of $1 million, or 1.25 million units.
Each whole warrant is exercisable at $1.00 per share for five years.
During the week ending Oct. 2, the company sold 425,000 units for $340,000.
Beacon is a Louisville, Ky.-based communications company.
| Issuer: | Beacon Enterprise Solutions Group, Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | $3 million
|
| Greenshoe: | $1 million, or 1.25 million units
|
| Units: | 3.75 million
|
| Price: | $0.80
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $1.00
|
| Settlement date: | Oct. 2 (for $340,000)
|
| Stock symbol: | OTCBB: BEAC
|
| Stock price: | $0.94 at close Oct. 2
|
| Market capitalization: | $18.7 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.
