By Devika Patel
Knoxville, Tenn., Dec. 17 - Beacon Enterprise Solutions Group, Inc. completed a $3.27 million private placement of units on Dec. 15, according to an 8-K filed Thursday with the Securities and Exchange Commission.
Beacon sold a total of 4.09 million units of one common share and one half-share warrant at $0.80 per unit.
Each whole warrant is exercisable at $1.00 per share for five years.
Proceeds will be used as working capital.
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: | $3,272,000
|
| Units: | 4.09 million
|
| Price: | $0.80
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $1.00
|
| Settlement date: | Dec. 15
|
| Stock symbol: | OTCBB: BEAC
|
| Stock price: | $0.85 at close Dec. 15
|
| Market capitalization: | $18.9 million
|
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