Deal sells 500,000 of the company's common shares at $3.00 per share
By Devika Patel
Knoxville, Tenn., Jan. 29 - Usell.com Inc. arranged a $1.5 million private placement of stock, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The company will sell 500,000 common shares at $3.00 per share. The price per share is a 27.71% discount to $4.15, the Jan. 28 closing share price.
Based in Deerfield Beach, Fla., the company operates a website where consumers can sell used electronics.
| Issuer: | Usell.com Inc.
|
| Issue: | Common stock
|
| Amount: | $1.5 million
|
| Shares: | 500,000
|
| Price: | $3.00
|
| Warrants: | No
|
| Announcement date: | Jan. 29
|
| Stock symbol: | OTCBB: USELD
|
| Stock price: | $4.15 at close Jan. 28
|
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