New Issue: Emergent pockets $1.13 million from private placement of units

By Devika Patel

Knoxville, Tenn., Aug. 4 - Emergent Group Inc. said in an 8-K filed Monday with the Securities and Exchange Commission that it completed a $1.13 million private placement of units on July 30.

The company sold 665,231 units of one common share and a sixth-share warrant at $1.70 per unit. Each whole warrant is exercisable at $1.75 per share until July 31, 2013.

Of the units sold, 533,825 units, or $907,500, were bought by insiders.

Emergent is based in Sun Valley, Calif.

Issuer:	Emergent Group Inc.
Issue:	Units of one common share and one sixth-share warrant
Amount:	$1,130,892.70
Units:	665,231
Price:	$1.70
Warrants:	One sixth-share warrant per unit
Warrant expiration:	July 31, 2013
Warrant strike price:	$1.75
Settlement date:	July 30
Stock symbol:	OTCBB: EMGP
Stock price:	$2.25 at close July 30

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