Published on 7/2/2010 in the Prospect News PIPE Daily.
New Issue: Elephant Talk Communications concludes $6.46 million placement of units
By Devika Patel
Knoxville, Tenn., July 2 - Elephant Talk Communications, Inc. completed a $6.46 million private placement of units on June 28, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold units of shares and warrants. Each of the 5,383,175 warrants is exercisable at $1.50 for five years.
Based in Orange, Calif., Elephant Talk is a long-distance communications carrier.
| Issuer: | Elephant Talk Communications, Inc.
|
| Issue: | Units of shares and warrants
|
| Amount: | $6,459,800
|
| Warrants: | 5,383,175
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $1.50
|
| Settlement date: | June 28
|
| Stock symbol: | OTCBB: ETAK
|
| Stock price: | $1.82 at close June 28
|
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