By Devika Patel
Knoxville, Tenn., Jan. 12 - FNDS3000 Corp. settled a $2 million private placement of stock on Jan. 6, according to an 8-K filed Monday with the Securities and Exchange Commission. The deal priced Dec. 1.
The company sold 8 million common shares to Sherington Holdings, LLC.
Sherington also received 30% warrant coverage. Each warrant is exercisable at $0.35 until Dec. 31, 2010.
The public financial transaction processing company is based in Ponte Vedra Beach, Fla.
| Issuer: | FNDS3000 Corp.
|
| Issue: | Common stock
|
| Amount: | $2 million
|
| Shares: | 8 million
|
| Warrants: | 30% coverage
|
| Warrant expiration: | Dec. 31, 2010
|
| Warrant strike price: | $0.35
|
| Investor: | Sherington Holdings, LLC
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| Pricing date: | Dec. 1
|
| Settlement date: | Jan. 6
|
| Stock symbol: | OTCBB: FDTC
|
| Stock price: | $0.40 at close Dec. 1
|
| Market capitalization: | $9.57 million
|
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