By Sheri Kasprzak
New York, Oct. 20 - Foldera, Inc. completed a $4.5 million private placement.
The company sold 4,166,667 shares at $1.08 each to Vision Opportunity Master Fund Ltd. and Crescent International Ltd.
The investors received warrants for 2,083,334 shares, exercisable at $1.75 each for five years.
Vision, as lead investor, also received a six-month warrant for 3,703,704 shares, exercisable at $1.25 each and a five-year warrant for 1,851,852 shares, exercisable at $2.00 each.
Proceeds will be used for working capital and general corporate purposes.
HPC Capital Management Corp. was the placement agent.
Foldera, based in Huntington Beach, Calif., develops workspace organization software.
| Issuer: | Foldera, Inc.
|
| Issue: | Stock
|
| Amount: | $4.5 million
|
| Shares: | 4,166,667
|
| Price: | $1.08
|
| Warrants: | For 2,083,334 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $1.75
|
| Investors: | Vision Opportunity Master Fund Ltd. (lead), Crescent International Ltd.
|
| Agent: | HPC Capital Management Corp.
|
| Settlement date: | Oct. 19
|
| Stock symbol: | OTCBB: FDRA
|
| Stock price: | $1.40 at close Oct. 19
|
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