By Sheri Kasprzak
Atlanta, March 7 - Genius Products Inc. said it has raised $10.3 million in a private placement of stock.
The company sold 6,518,987 shares at $1.58 each to JLF Asset Management LLC, Bonanza Capital Ltd. and an existing shareholder.
The investors in the deal also received warrants for 1,303,797 shares at $2.56 each for half of the shares and $2.78 each for the other half. The warrants expire in five years.
Cappello Capital Corp. and Roth Capital were the placement agents.
Based in Solana Beach, Calif., Genius Products produces entertainment products, including DVDs and CDs. The proceeds will be used for working capital.
| Issuer: | Genius Products Inc.
|
| Issue: | Stock
|
| Amount: | $10.3 million
|
| Shares: | 6,518,987
|
| Price: | $1.58
|
| Warrants: | For 1,303,797 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $2.56 for half; $2.78 for half
|
| Placement agent: | Cappello Capital Corp. and Roth Capital
|
| Investors: | JLF Asset Management LLC; Bonanza Capital Ltd.
|
| Settlement date: | March 7
|
| Stock price: | $2.34 at close March 4
|
|
|
© 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.
