By Sheri Kasprzak
New York, May 31 - HC Innovations, Inc. wrapped a private placement of stock for $5 million.
The company sold 1,666,667 shares at $3.00 each to four accredited investors, including some institutions.
The investors received warrants for 833,333 shares, exercisable at $4.00 each for two years.
HC may redeem the warrants if its stock trades above $6.00 for more than 20 consecutive trading days.
Located in Shelton, Conn., HC provides services and products for the frail and infirm.
| Issuer: | HC Innovations, Inc.
|
| Issue: | Stock
|
| Amount: | $5 million
|
| Shares: | 1,666,667
|
| Price: | $3.00
|
| Warrants: | For 833,333 shares
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $4.00
|
| Settlement date: | May 22
|
| Stock symbol: | OTCBB: HCNV
|
| Stock price: | $4.30 at close May 22
|
| Stock price: | $4.10 at close May 31
|
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