Financing with LG Capital Funding will sell common shares for one year
By Devika Patel
Knoxville, Tenn., Feb. 17 – eCrypt Technologies, Inc. negotiated a $1.8 million equity purchase agreement with LG Capital Funding, LLC on Feb. 10, according to an 8-K filed Monday with the Securities and Exchange Commission.
LG has committed to purchase up to $1.8 million of the company’s common stock in up to two tranches per month over the course of one year. Each tranche is limited to $75,000. The shares will be sold at a price equal to 75% of the lowest closing bid price for the 10 trading days preceding the sale.
The Austin, Texas, company helps corporate entities, governments and individuals protect their organizations against physical and cyber-attacks.
Issuer: | eCrypt Technologies, Inc.
|
Issue: | Equity purchase agreement
|
Amount: | $1.8 million
|
Tenor: | One year
|
Price: | 75% of the lowest closing bid price for the 10 trading days preceding the sale
|
Warrants: | No
|
Investor: | LG Capital Funding, LLC
|
Settlement date: | Feb. 10
|
Stock symbol: | OTCBB: ECRY
|
Stock price: | $0.03 at close Feb. 9
|
Market capitalization: | $4.05 million
|
© 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.