By Laura Lutz
Des Moines, Dec. 27 - UFood Restaurant Group, Inc. closed a $6.16 million private placement of units, according to an 8-K filing with the Securities and Exchange Commission.
The company sold 6.16 million units of one share and one half-share warrant at $1.00 per unit. Each whole warrant is exercisable at $0.125 for five years.
When it priced, the placement was expected to include up to 8 million units.
A placement agent participated in the deal.
The placement closed alongside UFood's acquisition of KnowFat Franchise Co., Inc.
Following the acquisition, UFood is a Newton, Mass.-based operator of fast-food restaurants and nutritional product retail stores.
| Issuer: | UFood Restaurant Group, Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | $6.16 million
|
| Units: | 6.16 million
|
| Price: | $1.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.125
|
| Settlement date: | Dec. 18
|
| Stock symbol: | OTCBB: UFFC
|
| Stock price: | $1.30 at close Dec. 18
|
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