New Issue: Emerald Acquisition settles $17.01 million private placement of units

By Devika Patel

Knoxville, Tenn., Nov. 6 - Emerald Acquisition Corp. has taken in $1.92 million from a private placement of units on Nov. 2, according to an 8-K filed Friday with the Securities and Exchange Commission. The company raised $15.1 million on Oct. 22 for a total of $17.01 million.

The company sold investment units at $150,000 per unit.

Each unit consists of 50,000 common shares and a warrant to purchase an additional 25,000 common shares. Each warrant is exercisable at $6.00 per share for five years.

Grandview Capital, Inc. was the lead placement agent, and Rodman & Renshaw, LLC was the co-placement agent.

The private fruit juice maker is based in Shandong, China.

Issuer:	Emerald Acquisition Corp.
Issue:	Units of 50,000 common shares and a warrant for 25,000 common shares
Amount:	$17,011,014
Price:	$150,000
Warrants:	One warrant for 25,000 shares per unit
Warrant expiration:	Five years
Warrant strike price:	$6.00
Agents:	Grandview Capital, Inc. (lead), Rodman & Renshaw, LLC (co-placement agent)
Settlement dates:	Oct. 22 (for $15,096,011), Nov. 2 ($1,915,003)

© 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.