Published on 3/16/2010 in the Prospect News PIPE Daily.
New Issue: Frederick's of Hollywood publicizes $3.05 million placement of shares
By Devika Patel
Knoxville, Tenn., March 16 - Frederick's of Hollywood Group Inc. said it completed a $3.05 million private placement of stock.
The company sold 2,907,051 common shares at $1.05 apiece.
Investors also received series A warrants for 1,162,820 shares, which are exercisable at $1.25 for two-and-a-half years, and five-year series B warrants, which are exercisable for 1,162,820 shares at $1.55 per share.
Proceeds will be used for working capital and general corporate purposes.
Frederick's is a New York-based retailer of women's intimate apparel and related products.
Issuer: | Frederick's of Hollywood Group Inc.
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Issue: | Common stock
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Amount: | $3,052,404
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Shares: | 2,907,051
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Price: | $1.05
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Warrants: | 1,162,820 series A warrants, 1,162,820 series B warrants
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Warrant expiration: | Two-and-a-half years (series A), five years (series B)
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Warrant strike price: | $1.25 for series A; $1.55 for series B
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Settlement date: | March 16
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Stock symbol: | Amex: FOH
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Stock price: | $1.21 at close March 16
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Market capitalization: | $32 million
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