By Laura Lutz
Des Moines, Aug. 24 - Empire Financial Holding Co. arranged a $2.25 million private placement of units with four investors.
In total, the units include $2,135,900.50 to purchase 1,825,556 common shares at $1.17 each and $114,097.25 to purchase warrants for 912,778 shares.
The warrants will become exercisable at $1.40 per share after six months and expire in five years.
Based in Longwood, Fla., Empire is a securities brokerage company.
| Issuer: | Empire Financial Holding Co.
|
| Issue: | Units for common stock and warrants
|
| Amount: | $2.25 million
|
| Shares: | 1,825,556
|
| Price: | $1.17
|
| Warrants: | For 912,778 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $1.40
|
| Pricing date: | Aug. 20
|
| Stock symbol: | Amex: EFH
|
| Stock price: | $1.17 at close Aug. 20
|
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