By Sheri Kasprzak
New York, June 25 - Celsius Holdings, Inc. sealed a $16 million common stock purchase agreement with Fusion Capital Fund II, LLC.
So far, the company has received $500,000 from the agreement and will receive another $500,000 when a registration statement covering the underlying shares is filed with the Securities and Exchange Commission.
Over the next 25 months, Celsius may sell shares to Fusion in amounts between $100,000 and $1 million at a price based upon the prevailing market prices at the time of sale without a fixed discount.
Proceeds will be used for marketing expenses, working capital and general corporate purposes.
Based in Delray Beach, Fla., Celsius makes nutritional foods and beverages.
| Issuer: | Celsius Holdings, Inc.
|
| Issue: | Common stock purchase agreement
|
| Amount: | $16 million
|
| Tenor: | 25 months
|
| Price: | At the prevailing market price at time of sale
|
| Warrants: | No
|
| Investor: | Fusion Capital Fund II, LLC
|
| Settlement date: | June 22
|
| Stock symbol: | OTCBB: CSUH
|
| Stock price: | $1.30 at close June 22
|
© 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.
