Offering includes five-year warrants; common shares sold at $0.15 each
By Susanna Moon
Chicago, Oct. 29 – HealthWarehouse.com, Inc. sold another $350,000 common shares in the $1.65 million private placement of stock that priced on Aug. 21, according to an 8-K filing with the Securities and Exchange Commission. The deal was expected to bring in $2 million, and the company sold $1.3 million shares in the first tranche.
In the second phase of the offering, the company sold 2,333,333 shares at $0.15 each, bringing the total number sold to 11,020,003 shares.
The company also issued five-year warrants for 1,666,666 shares at $0.30 per share.
As previously announced, the price per share is a 31.82% discount to the Aug. 20 closing share price of $0.22. The warrant strike price is a 36.36% premium to that price.
In the initial tranche, the company sold 8,686,670 shares and warrants for 4,343,332 shares.
HealthWarehouse.com is a retail mail-order pharmacy based in Florence, Ky.
| Issuer: | HealthWarehouse.com, Inc.
|
| Issue: | Common shares
|
| Amount: | $1,653,000
|
| Shares: | 11,020,003
|
| Price: | $0.15
|
| Warrants: | Yes
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| Warrant expiration: | Five years
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| Warrant strike price: | $0.30
|
| Settlement date: | Aug. 21 for $1,303,001, Oct. 23 for $349,999.95
|
| Stock symbol: | OTCBB: HEWA
|
| Stock price: | $0.22 at close Aug. 20
|
| Market capitalization: | $4.78 million
|
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