By Devika Patel
Knoxville, Tenn., June 25 - Environmental Service Professionals, Inc. settled a $5 million private placement of units on June 20, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The company sold 2,155,172 units at $2.32 apiece to International Media Fund. The units each consist of four common shares and one warrant. The warrants are exercisable at $0.75 for three years.
The company will receive the proceeds on June 25.
Environmental Service Professionals is a Palm Springs, Calif. -based company, which franchises the right to operate a business that provides limited mold, moisture and allergen survey services for residential and commercial buildings using the company's mandatory central call center.
| Issuer: | Environmental Service Professionals, Inc.
|
| Issue: | Units of four common shares and one warrant
|
| Amount: | $5 million
|
| Units: | 2,155,172
|
| Price: | $2.32
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $0.75
|
| Investor: | International Media Fund
|
| Settlement date: | June 20
|
| Stock symbol: | OTCBB: EVSP
|
| Stock price: | $0.10 at close June 20
|
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