New Issue: Fusion Telecommunications takes in $1 million through shares placement

By Devika Patel

Knoxville, Tenn., June 11 - Fusion Telecommunications International, Inc. settled a $1 million private placement of stock on June 9, according to an 8-K filed Friday with the Securities and Exchange Commission. The deal was conducted by Aegis Capital Corp.

The company sold 7,142,864 common shares at $0.14 each.

Investors also received five-year warrants for 3,571,432 shares. One-half of the warrants are exercisable at $0.175 and the balance is exercisable at $0.21.

Proceeds will be used primarily for general corporate purposes.

Fusion is a telecommunications company based in New York.

Issuer:	Fusion Telecommunications International, Inc.
Issue:	Common stock
Amount:	$1 million
Shares:	7,142,864
Price:	$0.14
Warrants:	For 3,571,432 shares
Warrant expiration:	Five years
Warrant strike price:	$0.175 (for 1,785,716 shares), $0.21 (for 1,785,716 shares)
Agent:	Aegis Capital Corp.
Settlement date:	June 9
Stock symbol:	OTCBB: FSNN
Stock price:	$0.20 at close June 9
Market capitalization:	$19 million

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.