By Sheri Kasprzak
New York, Aug. 30 - Gener8Xion Entertainment, Inc. said it has completed a $1,525,000 private placement of units.
The company sold 762,500 units at $2.00 each to 26 accredited investors.
The units include one share and one warrant. The warrants are exercisable at $4.00 each for five years.
Mercadien Securities, LLC was the placement agent for the offering.
The proceeds will be used for growth and working capital.
Based in Los Angeles, Gener8Xion is a television programming production company.
| Issuer: | Gener8Xion Entertainment, Inc.
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| Issue: | Units of one share and one warrant
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| Amount: | $1,525,000
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| Units: | 762,500
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| Price: | $2.00
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| Warrants: | One warrant per unit
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| Warrant expiration: | Five years
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| Warrant strike price: | $4.00
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| Placement agent: | Mercadien Securities, LLC
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| Settlement date: | Aug. 26
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| Stock price: | $2.00 at close Aug. 26
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