By Laura Lutz
Des Moines, Sept. 5 - Debt Resolve, Inc. completed a private placement of units for $1.76 million.
The company sold 70.4 units at $25,000 apiece.
Each unit consists of 12,500 common shares and warrants for 6,250 shares. Each warrant will be exercisable at $2.00 per share for five years.
Proceeds will be used for working capital and for general corporate purposes.
Debt Resolve is a software company based in White Plains, N.Y.
| Issuer: | Debt Resolve, Inc.
|
| Issue: | Units of 12,500 common shares and warrants for 6,250 shares
|
| Amount: | $1.76 million
|
| Units: | 70.4
|
| Price: | $25,000
|
| Warrants: | For 6,250 shares per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $2.00
|
| Settlement date: | Sept. 5
|
| Stock symbol: | Amex: DRV
|
| Stock price: | $2.07 at close Sept. 5
|
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