Offering sells common shares with 0.25 warrants for every share bought
By Devika Patel
Knoxville, Tenn., April 17 - Merriman Holdings Inc. settled a $25,000 third tranche of a private placement of stock on April 10, according to an 8-K filed Thursday with the Securities and Exchange Commission. It raised $470,000 on April 2 and a further $25,000 on April 8.
The company sold 7,833,333 common shares in the first tranche, 416,667 shares in the second and 416,667 shares in the third tranche. The price per share of $0.06 reflects a 50% discount to the April 1 closing share price of $0.12.
The investors also received one warrant for 0.25 shares for each share purchased. Each five-year warrant is exercisable at $0.08. The strike price is a 33.33% discount to the April 1 closing price.
Proceeds will be used for the partial repayment of debt and payments under a litigation settlement, working capital and general corporate purposes.
Merriman is a financial services holding company based in San Francisco.
| Issuer: | Merriman Holdings Inc.
|
| Issue: | Common stock
|
| Amount: | $520,000
|
| Shares: | 8,666,667
|
| Price: | $0.06
|
| Warrants: | One warrant for 0.25 shares per share
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.08
|
| Settlement dates: | April 2 (for $470,000), April 8 (for $25,000), April 10 (for $25,000)
|
| Stock symbol: | OTCBB: MERR
|
| Stock price: | $0.12 at close April 1
|
| Market capitalization: | $14.92 million
|
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