Deal raises funds for operating capital; shares sold at $0.50 apiece
By Devika Patel
Knoxville, Tenn., July 20 - JA Energy concluded a $50,000 private placement of stock on July 17, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold 100,000 restricted common shares at $0.50 apiece. The price per share is a 41.18% discount to $0.85, the July 19 closing share price.
Proceeds will be used as general operating capital.
Based in Las Vegas, JA is an energy company that plans to produce ethanol.
| Issuer: | JA Energy
|
| Issue: | Restricted common stock
|
| Amount: | $50,000
|
| Shares: | 100,000
|
| Price: | $0.50
|
| Warrants: | No
|
| Announcement date: | July 20
|
| Settlement date: | July 17
|
| Stock symbol: | OTCBB: JAEN
|
| Stock price: | $0.85 at close July 19
|
| Market capitalization: | $29.03 million
|
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