Deal with Aladdin Trading will sell common shares until Dec. 31, 2015
By Devika Patel
Knoxville, Tenn., Feb. 5 – CrowdGather, Inc. negotiated a $1.4 million equity purchase agreement with Aladdin Trading, LLC on Jan. 30, according to an 8-K filed Thursday with the Securities and Exchange Commission. The company will register up to 17.5 million shares for this transaction.
Aladdin has committed to purchase up to $1.4 million of the company's common stock until Dec. 31, 2015. The shares will be sold at a price equal to 60% of the volume-weighted average trading price of the stock during the three consecutive trading days following the put date.
CrowdGather is a Woodland Hills, Calif.-based internet company that specializes in developing and hosting forum-based websites.
| Issuer: | CrowdGather, Inc.
|
| Issue: | Equity purchase agreement
|
| Amount: | $1.4 million
|
| Tenor: | Dec. 31, 2015
|
| Price: | 60% of the volume-weighted average trading price of the stock during the three consecutive trading days following the put date
|
| Warrants: | No
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| Investor: | Aladdin Trading, LLC
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| Settlement date: | Jan. 30
|
| Stock symbol: | OTCBB: CRWG
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| Stock price: | $0.07 at close Jan. 29
|
| Market capitalization: | $8.56 million
|
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