Published on 12/3/2012 in the Prospect News PIPE Daily.
Dynastar Holdings raises $875,000 through private placement of units
Company sells 4.375 million units of one share, one half-share warrant
By Devika Patel
Knoxville, Tenn., Dec. 3 - Dynastar Holdings, Inc. raised $875,000 overall in its private placement of units that was announced as a $2 million offering with a $500,000 greenshoe. It was conducted by Gottbetter Capital Markets, LLC.
On Feb. 24, the company raised $25,000, it raised $500,000 on May 15, $50,000 on Aug. 1, $50,000 on Sept. 28 and $250,000 on Oct. 23 for a total of $875,000.
The company sold 4.375 million units of one common share and one half-share warrant at $0.20 per unit on a best-efforts basis. It sold 125,000 units in the first tranche, 125,000 units in the second tranche, 2.5 million units in the third tranche, 250,000 units in the fourth tranche, 250,000 units in the fifth tranche and 1.25 million units in the sixth tranche.
Each whole warrant is exercisable at $0.80 for five years. The strike price is a 300% premium to $0.20, the Jan. 26 closing share price.
Louisville-based Dynastar is a direct-sales company that sells electricity in deregulated energy markets.
| Issuer: | Dynastar Holdings, Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | $950,000
|
| Units: | 4.75 million
|
| Price: | $0.20
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.80
|
| Agent: | Gottbetter Capital Markets, LLC
|
| Pricing date: | Feb. 2
|
| Settlement date: | Jan. 17 (for $25,000), Feb. 24 (for $25,000), May 15 (for $500,000), Aug. 1 (for $50,000), Sept. 28 (for $50,000), Oct. 23 (for $250,000)
|
| Stock symbol: | OTCBB: DYNA
|
| Stock price: | $0.20 at close Jan. 26
|
| Market capitalization: | $38.08 million
|
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