By Sheri Kasprzak
New York, May 11 - Foldera, Inc. wrapped a $1 million private placement of stock.
The company issued 1,666,667 shares at $0.60 each to Vision Opportunity Fund, Ltd.
Vision has the option, but not the obligation, to buy up to 5 million shares through July 31 at a fixed price of $0.60 each, for total proceeds of $4 million.
Connected to the offering, Vision agreed to cancel three outstanding warrants for a total of 7,407,408 shares held from the company's October 2006 financing.
The investor received new warrants for 5,401,235 shares, exercisable at $0.60 each.
HPC Capital Management Corp. was the placement agent.
Proceeds will be used for working capital and general corporate purposes.
Located in Huntington Beach, Calif., Foldera provides a web-based organization and collaboration network.
| Issuer: | Foldera, Inc.
|
| Issue: | Stock
|
| Amount: | $1 million
|
| Shares: | 1,666,667
|
| Price: | $0.60
|
| Warrants: | For 5,401,235 shares
|
| Warrant strike price: | $0.60
|
| Investor: | Vision Opportunity Fund, Ltd.
|
| Agent: | HPC Capital Management Corp.
|
| Settlement date: | May 10
|
| Stock symbol: | OTCBB: FDRA
|
| Stock price: | $0.50 at close May 10
|
| Stock price: | $0.50 at close May 11
|
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