By Sheri Kasprzak
New York, Aug. 2 - International Fight League, Inc. is gearing up to complete a private placement for $12.665 million.
A group of institutional investors agreed to buy 25.33 million shares at $0.50 each.
The investors also will receive warrants for 12.665 million shares, exercisable at $1.05 each for five years.
New York-based International Fight League operates a mixed-martial arts sports league.
| Issuer: | International Fight League, Inc.
|
| Issue: | Stock
|
| Amount: | $12.665 million
|
| Shares: | 25.33 million
|
| Price: | $0.50
|
| Warrants: | For 12.665 million shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $1.05
|
| Announcement date: | Aug. 1
|
| Stock symbol: | OTCBB: IFLI
|
| Stock price: | $0.85 at close Aug. 1
|
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