By Devika Patel
Knoxville, Tenn., April 14 - Marani Brands, Inc. completed a $3.78 million private placement of stock and warrants on April 7, according to an 8-K filed Monday with the Securities and Exchange Commission. It also completed a merger between its subsidiary FFBI Merger Sub Corp. and Margrit Enterprises International, Inc. on that date.
The company sold 15.12 million common shares at $0.25 per share to four investors.
Investors also received warrants for 15.12 million common shares, which are exercisable at $0.35.
Based in Irvine, Calif., Marani Brands, formerly Fit For Business International, Inc., is the parent company of Marani Spirits Inc., which imports, sells and distributes ultra-premium spirits and wines.
| Issuer: | Marani Brands, Inc.
|
| Issue: | Common stock, warrants
|
| Amount: | $3.78 million
|
| Shares: | 15.12 million
|
| Price: | $0.25
|
| Warrants: | For 15.12 million shares
|
| Warrant strike price: | $0.35
|
| Settlement date: | April 7
|
| Stock symbol: | OTCBB: MRIB
|
| Stock price: | $4.00 at close April 7
|
© 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.
