By Laura Lutz
Des Moines, Oct. 22 - U.S. Helicopter Corp. raised $6.6 million from a private placement of stock.
International Financial Advisors, KSCC bought 8,000,000 non-voting shares at $0.825 each. The placement also included warrants for 28,700,000 additional shares, exercisable at $0.01 per share for five years.
Proceeds will be used for working capital and for repayment of debt.
New York-based U.S. Helicopter provides helicopter shuttle service between the Downtown Manhattan Heliport and Kennedy Airport.
| Issuer: | U.S. Helicopter Corp.
|
| Issue: | Stock
|
| Amount: | $6.6 million
|
| Shares: | 8,000,000
|
| Price: | $0.825
|
| Warrants: | For 28,700,000 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.01
|
| Investor: | International Financial Advisors
|
| Settlement date: | Oct. 17
|
| Stock symbol: | OTCBB: USHP
|
| Stock price: | $0.50 at close Oct. 22
|
© 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.
