By Sheri Kasprzak
Atlanta, April 19 - Eagle Broadband Inc. said it will raise $2,035,000 in a direct placement of stock.
The company plans to sell 10 million shares at $0.2035. The price is a 7.5% discount to the company's closing stock price of $0.22 on April 14.
The shares are being offered through the company's shelf registration.
The Keystone Equities Group is the placement agent.
Eagle is a wireline and wireless network services provider based in League City, Texas. The proceeds will be used for general corporate purposes, including the acquisition of future businesses or complimentary products, for working capital and for the repayment of debt.
| Issuer: | Eagle Broadband Inc.
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| Issue: | Stock
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| Amount: | $2,035,000
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| Shares: | 10 million
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| Price: | $0.2035
|
| Warrants: | No
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| Placement agent: | The Keystone Group
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| Pricing date: | April 14
|
| Stock price: | $0.23 at close April 14
|
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