Deal sells 5.6 million shares at $0.125 apiece to fund working capital
By Devika Patel
Knoxville, Tenn., May 9 - Izea Inc. completed a $700,000 private placement of stock with two investors on May 8, according to an 8-K filed Wednesday with the Securities and Exchange Commission. Majestic Silver Corp. invested $350,000.
The company sold 5.6 million common shares at $0.125 per share, a 74.49% discount to the $0.49 closing share price on May 7.
Proceeds will be used for working capital and general corporate requirements.
Izea, formerly Izea Holdings, Inc., is an Orlando, Fla., company that connects social media publishers with advertisers.
| Issuer: | Izea Inc.
|
| Issue: | Common stock
|
| Amount: | $700,000
|
| Shares: | 5.6 million
|
| Price: | $0.125
|
| Warrants: | No
|
| Settlement date: | May 8
|
| Stock symbol: | Pink Sheets: IZEA
|
| Stock price: | $0.49 at close May 7
|
| Market capitalization: | $8.51 million
|
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