Offering will sell restricted common shares at about $0.55 per share
By Devika Patel
Knoxville, Tenn., June 6 – FlexShopper Inc. raise up to $8 million in a private placement of stock, according to an 8-K filed Friday with the Securities and Exchange Commission. It has already raised $3.21 million as of May 30.
The company is selling restricted common shares at about $0.55 per share, which is a 40.22% discount to the May 29 closing share price of $0.92. It sold 5,839,273 shares in the May 30 tranche.
The Charlotte, N.C., company provides durable goods to consumers on a lease-to-own basis.
| Issuer: | FlexShopper Inc.
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| Issue: | Restricted common shares
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| Amount: | $8 million
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| Price: | $0.55 (approximate)
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| Warrants: | No
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| Settlement date: | May 30 (for $3,211,000)
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| Stock symbol: | OTCBB: FPAY
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| Stock price: | $0.92 at close May 29
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| Market capitalization: | $19.24 million
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