By Devika Patel
Knoxville, Tenn., July 31 - Foldera, Inc announced that Vision Opportunity Master Fund, Ltd has purchased an additional $1 million of the company's common stock, via a July 27 amendment to the previously announced May 4 placement.
In the new agreement, Vision has agreed to buy 6,666,667 shares of common stock at $0.15 per share.
In a simultaneous private transaction, Richard Lusk transferred, for nominal consideration, 20 million restricted shares of his own Foldera stock in order to facilitate the transaction, thereby reducing the dilution to Foldera's existing shareholders.
As previously reported, Vision agreed in May to purchase 1,666,667 shares of common stock at $0.60 per share and received warrants for 5,401,235 shares, exercisable at $0.60 each.
HPC Capital Management Corp. was the agent in both deals.
Located in Huntington Beach, Calif., Foldera provides a web-based organization and collaboration network.
Issuer: | Foldera, Inc.
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Issue: | Stock
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Amount: | $1 million
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Shares: | 6,666,667
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Price: | $0.15
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Warrants: | No
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Investor: | Vision Opportunity Fund, Ltd.
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Agent: | HPC Capital Management Corp.
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Pricing date: | July 27
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Stock symbol: | OTCBB: FDRA
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Stock price: | $0.105 at close July 30
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