By Laura Lutz
Des Moines, Sept. 5 - Majesco Entertainment Co. raised $5.95 million from a private placement of units.
The company sold 3,966,668 units at $1.50 apiece.
Each unit consists of one share and 0.4 of a warrant. Each whole warrant will be exercisable at $2.04 for five years, beginning six months after issuance.
MDB Capital Group, LLC was the placement agent.
Majesco is an Edison, N.J.-based provider of video games and digital entertainment products.
| Issuer: | Majesco Entertainment Co.
|
| Issue: | Units of one share and 0.4 of a warrant
|
| Amount: | $5.95 million
|
| Units: | 3,966,668
|
| Price: | $1.50
|
| Warrants: | 0.4 of a warrant per unit
|
| Warrant expiration: | Five years, beginning six months after issuance
|
| Warrant strike price: | $2.04
|
| Placement agent: | MDB Capital Group, LLC
|
| Settlement date: | Sept. 5
|
| Stock symbol: | Nasdaq: COOL
|
| Stock price: | $2.08 at close Sept. 5
|
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