Anderson and Strudwick is agent; shares sold with five-year warrants
By Devika Patel
Knoxville, Tenn., Nov. 16 - Iceweb Inc. completed a $1.17 million private placement of units on Sept. 30, according to an 8-K filed Wednesday with the Securities and Exchange Commission. Anderson and Strudwick, Inc. was the agent.
The company sold 9,762,671 units of one common share and one warrant at $0.12 per unit.
Each warrant is exercisable at $0.15 for five years. The strike price reflects a 16.67% discount to $0.18, the closing share price on Sept. 29.
Based in Herndon, Va., Iceweb creates and hosts online training programs.
| Issuer: | Iceweb Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $1,171,521
|
| Shares: | 9,762,671
|
| Price: | $0.12
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.15
|
| Agent: | Anderson and Strudwick, Inc.
|
| Settlement date: | Sept. 30
|
| Stock symbol: | OTCBB: IWEB
|
| Stock price: | $0.19 at close Sept. 30
|
| Market capitalization: | $18.46 million
|
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