Published on 7/7/2005 in the Prospect News PIPE Daily.
New Issue: Equitex closes $1.44 million private placement of units
By Sheri Kasprzak
New York, July 7 - Equitex, Inc. said it has completed a private placement for $1,437,000.
The company sold 239,500 units at $6 each to 16 accredited investors.
The units include two shares and one warrant. The warrants allow for the purchase of an additional share at $5.50 each for three years.
Based in Englewood, Colo., Equitex markets prepaid stored value cards.
Issuer: | Equitex, Inc.
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Issue: | Units of two shares and one warrant
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Amount: | $1,437,000
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Units: | 239,500
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Price: | $6
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Warrants: | One warrant per unit
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Warrant expiration: | Three years
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Warrant strike price: | $5.50
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Settlement date: | June 30
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Stock price: | $4.30 at close June 30
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