Company sells its common shares at $2.78 per share to single investor
By Devika Patel
Knoxville, Tenn., June 7 - Independence Energy Corp. completed a $200,000 tranche of a $1 million private placement of stock with an investor on May 24, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company sold 71,943 common shares at $2.78 per share. The price per share is a 0.71% discount to the May 23 closing share price of $2.80 and is also equal to 90% of the average of the closing price of the stock for the five banking days immediately preceding the settlement date.
The oil and gas company is based in Seal Beach, Calif.
| Issuer: | Independence Energy Corp.
|
| Issue: | Common stock
|
| Amount: | $1 million
|
| Price: | $2.78
|
| Warrants: | No
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| Settlement date: | May 24 (for $200,000)
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| Stock symbol: | OTCBB: IDNG
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| Stock price: | $2.80 at close May 23
|
| Market capitalization: | $83.04 million
|
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