Deal sells 400,000 shares at $0.25 per share with five-year warrants
By Devika Patel
Knoxville, Tenn., Oct. 17 - Grandparents.com, Inc. completed a $100,000 private placement of stock on Oct. 11, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company sold 400,000 common shares at $0.25 per share. The price per share is a 56.25% premium to the $0.16 closing share price on Oct. 10.
Investors also received warrants for 100,000 shares. Each warrant is exercisable at $0.25 for five years. The strike price is also a 56.25% premium to the Oct. 3 closing share price.
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| Issuer: | Grandparents.com, Inc.
|
| Issue: | Common stock
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| Amount: | $100,000
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| Shares: | 400,000
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| Price: | $0.25
|
| Warrants: | For 100,000 shares
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| Warrant expiration: | Five years
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| Warrant strike price: | $0.25
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| Settlement date: | Oct. 11
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| Stock symbol: | OTCBB: GPCM
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| Stock price: | $0.16 at close Oct. 10
|
| Market capitalization: | $16.91 million
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