Company sells 2 million common shares at $0.50 per share in offering
By Devika Patel
Knoxville, Tenn., March 29 - EC Development, Inc. completed a $1 million private placement of stock, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company sold 2 million common shares at $0.50 per share, which is a 23.08% discount to the March 28 closing share price of $0.65.
Based in Shawnee, Okla., EC Development markets and sells casino-management systems.
| Issuer: | EC Development, Inc.
|
| Issue: | Common stock
|
| Amount: | $1 million
|
| Shares: | 2 million
|
| Price: | $0.50
|
| Warrants: | No
|
| Announcement date: | March 29
|
| Stock symbol: | Pink Sheets: ECDI
|
| Stock price: | $0.65 at close March 28
|
| Market capitalization: | $17.37 million
|
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