Investors buy 2.59 million shares at $0.15 apiece along with warrants
By Devika Patel
Knoxville, Tenn., April 25 - International Commercial Television, Inc. sold $388,500 of its common stock in a private placement, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The company sold 2.59 million common shares at $0.15 apiece, which is a 44.44% discount to the April 24 closing share price of $0.27.
Investors also received warrants for 863,333 shares, which are each exercisable at $0.25 for three years. The strike price is a 7.41% discount to the April 24 closing share price.
Based in Bainbridge Island, Wash., International Commercial Television produces long-form and short-form infomercials, and sells its brands of advertised products directly to its viewing audience.
| Issuer: | International Commercial Television, Inc.
|
| Issue: | Common stock
|
| Amount: | $388,500
|
| Shares: | 2.59 million
|
| Price: | $0.15
|
| Warrants: | For 863,333 shares
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $0.25
|
| Announcement date: | April 25
|
| Stock symbol: | Pink Sheets: ICTL
|
| Stock price: | $0.27 at close April 24
|
| Market capitalization: | $5.46 million
|
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