By Sheri Kasprzak
New York, Aug. 17 - House of Taylor Jewelry, Inc. said it has completed a private placement of units for $6,476,915.
The company sold 1,523,980 units at $4.25 each.
The units include one share and one warrant. The warrants provide for the purchase of an additional share at $7.00 each for five years.
House of Taylor may redeem the warrants at $0.10 each if its stock trades above $11.00 per share for 20 consecutive trading days.
Laidlaw & Co. Ltd. was the placement agent.
Based in Los Angeles, House of Taylor is a consumer jewelry operation formed by actress Elizabeth Taylor.
| Issuer: | House of Taylor Jewelry, Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | $6,476,915
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| Units: | 1,523,980
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| Price: | $4.25
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| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
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| Warrant strike price: | $7.00
|
| Placement agent: | Laidlaw & Co. Ltd.
|
| Settlement date: | Aug. 12
|
| Stock price: | $5.92 at close Aug. 12
|
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