Deal sells 6.42 million common shares at $0.40 per share with warrants
By Devika Patel
Knoxville, Tenn., Dec. 14 - BillMyParents Inc. settled a $2.57 million private placement of stock on Dec. 13, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold 6,419,975 common shares at $0.40 per share. The price per share reflects a 4.76% discount to the Dec. 12 closing share price of $0.42.
Investors also received five-year warrants for 2,542,494 shares. Of the warrants, 1.25 million are each exercisable at $0.50 and 1,292,494 are each exercisable at $0.60. The strike prices are 19.05% and 42.86% premiums to the Dec. 12 closing share price.
San Diego's BillMyParents offers online and traditional retail payment platforms designed to enable parents and young people to collaborate toward the goal of responsible spending.
| Issuer: | BillMyParents Inc.
|
| Issue: | Common stock
|
| Amount: | $2,567,990
|
| Shares: | 6,419,975
|
| Price: | $0.40
|
| Warrants: | For 2,542,494 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.50, $0.60
|
| Settlement date: | Dec. 13
|
| Stock symbol: | OTCBB: BMPI
|
| Stock price: | $0.42 at close Dec. 12
|
| Market capitalization: | $39.71 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.
