Deal sells 46.5 million shares to Guaranty Finance for a 12.5% stake
By Devika Patel
Knoxville, Tenn., March 9 - Quickflix Ltd. said it completed a private placement. It sold A$2.33 million of shares to Guaranty Finance Investors, LLC in the deal.
The company sold 46.5 million shares at A$0.05 per share, which is identical to the closing share price on March 8.
Following this placement Guaranty Finance Investors will hold about 12.5% of the company's issued equity and will be entitled to appoint a director to Quickflix's board.
Proceeds will be used to fund growth and other initiatives.
The online movie rental subscription and retail service operator is based in Perth, Australia.
| Issuer: | Quickflix Ltd.
|
| Issue: | Shares
|
| Amount: | A$2,325,000
|
| Shares: | 46.5 million
|
| Price: | A$0.05
|
| Warrants: | No
|
| Investor: | Guaranty Finance Investors, LLC
|
| Settlement date: | March 9
|
| Stock symbol: | Australia: QFX
|
| Stock price: | A$0.05 at close March 9
|
| Market capitalization: | A$9.44 million
|
© 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.
