Company sells units of two shares and one warrant at $1.00 in offering
By Devika Patel
Knoxville, Tenn., July 30 - Blue Calypso, Inc. raised $240,000 in the first tranche of a $10 million private placement of units on July 26, according to an 8-K filed Monday with the Securities and Exchange Commission. The deal priced June 14.
The company is selling 10 million units of two common shares and one warrant at $1.00 per unit. It sold 240,000 units in the initial tranche.
Each warrant is exercisable at $0.75 for two years. The strike price is a 1.35% premium to $0.74, the June 13 closing share price.
WFG Investments, Inc. is the agent.
The Dallas-based company has developed a patented mobile social marketing and advertising platform.
| Issuer: | Blue Calypso, Inc.
|
| Issue: | Units of two common shares and one warrant
|
| Amount: | $10 million
|
| Units: | 10 million
|
| Price: | $1.00
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $0.75
|
| Agent: | WFG Investments, Inc.
|
| Pricing date: | June 14
|
| Settlement date: | July 26 (for $240,000)
|
| Stock symbol: | OTCBB: BCYP
|
| Stock price: | $0.74 at close June 13
|
| Market capitalization: | $112.55 million
|
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