By Devika Patel
Knoxville, Tenn., June 24 - Hudson Holding Corp. said in an 8-K filed Tuesday with the Securities and Exchange Commission and a company press release that it completed a $4 million private placement of stock on June 20.
The company sold 8 million common shares at $0.50 per share.
Investors also received warrants for 4 million common shares, exercisable at $0.75 for five years.
Proceeds will be used to strengthen the company's balance sheet and facilitate additional recruitment.
Based in Jersey City, N.J., Hudson Holding is the parent company of Hudson Securities, Inc., a registered broker-dealer, and Hudson Technologies Inc., a company that provides technology services to Hudson Securities.
| Issuer: | Hudson Holding Corp.
|
| Issue: | Common stock
|
| Amount: | $4 million
|
| Shares: | 8 million
|
| Price: | $0.50
|
| Warrants: | For 4 million shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.75
|
| Settlement date: | June 20
|
| Stock symbol: | OTCBB: HDHL
|
| Stock price: | $0.45 at close June 20
|
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