By Laura Lutz
Des Moines, Aug. 14 - g8wave Holdings, Inc., formerly International Food and Wine Consultants, Inc., settled a private placement of units for $2.675 million.
The company sold 107 units at $25,000 apiece.
Each unit consists of 1,783,262 shares and redeemable warrants for 891,631 shares. The warrants are exercisable at $2.25 per share for four years.
The placement was completed in connection with the company's merger with G8Wave, Inc.
Following the merger, g8wave is a Boston-based mobile media company.
| Issuer: | g8wave Holdings, Inc.
|
| Issue: | Units of 1,783,262 shares and warrants for 891,631 shares
|
| Amount: | $2.675 million
|
| Units: | 107
|
| Price: | $25,000
|
| Warrants: | For 891,631
|
| Warrant expiration: | Four years
|
| Warrant strike price: | $2.25
|
| Announcement date: | Aug. 14
|
| Stock symbol: | OTCBB: IFWC (not currently trading)
|
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