Published on 6/30/2009 in the Prospect News PIPE Daily.
New Issue: Dori Media announces £1.82 million private placement of ordinary stock
By Devika Patel
Knoxville, Tenn., June 30 - Dori Media Group plc said it will raise £1.82 million in a private placement of shares.
The company will sell 1,818,182 ordinary shares at 100p apiece to Zabludowicz Trust. The investor also will receive 479,763 warrants, which are exercisable at NIS 7.00 for five years.
Proceeds will be used to finance productions and expand the company's business.
Based in London, Dori Media produces, distributes and broadcasts telenovelas, or serialized dramas, broadcast mostly in Latin American countries.
| Issuer: | Dori Media Group plc
|
| Issue: | Ordinary shares
|
| Amount: | £1,818,182
|
| Shares: | 1,818,182
|
| Price: | 100p
|
| Warrants: | 479,763
|
| Warrant expiration: | Five years
|
| Warrant strike price: | NIS 7.00
|
| Investor: | Zabludowicz Trust
|
| Announcement date: | June 30
|
| Stock symbol: | London: DMG
|
| Stock price: | 60p at close June 30
|
| Market capitalization: | £13.5 million
|
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