New Issue: Halcyon Jets raises $4.99 million in private placement of shares

By LLuvia Mares

New York, Aug. 23 - Halcyon Jets Holdings, Inc. announced Thursday it settled a $4.99 million private placement of shares and warrants.

Halcyon Jets Holdings is the product of merging companies Greenleaf Forest Products Holdings, Inc. and privately held Halcyon Jets, Inc. The transaction was carried out to move the state of incorporation to Delaware from Nevada.

Of the total equity after the transaction, 19.5% will be held by investors in the private placement and 33.3% by the pre-merger stockholders of Greenleaf Forest Products and the rest by Halcyon's pre-merger stockholders.

Halcyon sold 49.9 units at $100,000 each.

In total the units include 4,990,000 shares and three-year redeemable warrants to purchase 2,495,000 shares of Halcyon Jets' stock at an exercise price of $1.00 per share.

As part of the private placement, holders of $1,500,000 of outstanding indebtedness of Halcyon converted their promissory notes at $1.00 per share into 15 units in the private placement.

New York-based Halcyon was formed in Nevada on Feb. 1, 2007 to provide luxury private transport by connecting travelers with independently owned and operated executive aircraft.

Issuer: Halcyon Jets Holdings, Inc.

Issue: Units of 100,000 shares and 50,000 warrants

Amount: $4,990,000

Units: 49.9 units

Price: $100,000

Warrants: For 2,495,000 shares in total

Warrant expiration: Three years

Warrant strike price: $1.00

Settlement date: Aug. 22

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