Published on 6/22/2010 in the Prospect News PIPE Daily.
New Issue: Forex365 pockets $2.5 million from private placement of common stock
By Devika Patel
Knoxville, Tenn., June 22 - Forex365, Inc. completed a $2.5 million private placement of stock on June 17, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The company sold 1,018,868 common shares.
Investors also received warrants for 873,315 shares. The three-year warrants are exercisable at $2.58 apiece.
Forex365 is a Vero Beach, Fla., shell company.
| Issuer: | Forex365, Inc.
|
| Issue: | Common stock
|
| Amount: | $2.5 million
|
| Shares: | 1,018,868
|
| Warrants: | For 873,315 shares
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $2.58
|
| Settlement date: | June 17
|
| Stock symbol: | OTCBB: FRXT
|
| Stock price: | $6.40 at close June 17
|
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