Insider Guides also acquired for $18 million and 17 million shares
By Devika Patel
Knoxville, Tenn., Nov. 10 - Quepasa Corp. settled a $1.56 million private placement of stock on Nov. 10, according to an 8-K filed Thursday with the Securities and Exchange Commission. Tradewinds Master Fund (BVI), Ltd., Brio Capital LP and Next View Capital LP were the investors.
The company sold 436,134 common shares at $3.57 per share. The price per share is a 15.8% discount to $4.24, the Nov. 9 closing share price.
The company also reported that it acquired Insider Guides, Inc. for $18 million in cash and 17 million common shares. Insider Guides owns and operates the social networking site myyearbook.com.
Based in West Palm Beach, Fla., Quepasa operates Quepasa.com, a bicultural Hispanic internet community.
| Issuer: | Quepasa Corp.
|
| Issue: | Common stock
|
| Amount: | $1,557,000
|
| Shares: | 436,134
|
| Price: | $3.57
|
| Warrants: | No
|
| Investors: | Tradewinds Master Fund (BVI), Ltd., Brio Capital LP and Next View Capital LP
|
| Settlement date: | Nov. 10
|
| Stock symbol: | OTCBB: QPSA
|
| Stock price: | $4.08 at close Nov. 10
|
| Market capitalization: | $68.01 million
|
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