Deal sells 5.37 million shares at $0.125 each to fund working capital
By Toni Weeks
San Diego, May 15 - Izea Inc. completed a $671,120 private placement of stock with nine investors on May 15, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The company sold 5.37 million common shares at $0.125 per share, a 60.94% discount to the $0.32 closing share price on May 14.
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: | $671,120
|
| Shares: | 5,368,960
|
| Price: | $0.125
|
| Warrants: | No
|
| Settlement date: | May 8
|
| Stock symbol: | Pink Sheets: IZEA
|
| Stock price: | $0.32 at close May 14
|
| Market capitalization: | $12.37 million
|
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