By Devika Patel
Knoxville, Tenn., Sept. 3 - Bonds.com Group Inc. settled a $1 million tranche of a $5 million private placement of units on Aug. 28, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company is selling 5,000 units at $1,000 per unit. The units will be sold in three or more closings, with 1,000 units sold by Sept. 2, an additional 1,000 units sold by Oct. 12 and the final 3,000 units sold by Nov. 26.
Each unit consists of 2,667 common shares and 9,597 warrants. The warrants are exercisable for three years. If all 5,000 units are sold, the investors will get rights to buy an additional 26,893,580 shares.
Bonds.com Group is based in Boca Raton, Fla., and provides an online trading platform to institutional and individual fixed-income investors through subsidiary Bonds.com.
| Issuer: | Bonds.com Group Inc.
|
| Issue: | Units of 2,667 common shares and 9,597 warrants
|
| Amount: | $5 million
|
| Units: | 5,000
|
| Price: | $1,000
|
| Warrants: | 9,597 warrants per unit
|
| Warrant expiration: | Three years
|
| Settlement date: | Aug. 28 (for $1 million)
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| Stock symbol: | OTCBB: BDCG
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| Stock price: | $0.25 at close Aug. 28
|
| Market capitalization: | $15.3 million
|
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