Deal sells 8,000 common shares at $2.40 apiece to fund working capital
By Devika Patel
Knoxville, Tenn., Aug. 6 - Izea Inc. completed a $19,200 private placement of stock with its chief marketing officer Ryan S. Schram on Aug. 6, according to an 8-K filed Monday with the Securities and Exchange Commission.
Schram bought 8,000 common shares at $2.40 per share, a 37.14% premium to the closing share price, $1.75, on Aug. 3.
Proceeds will be used for general working capital.
Izea is an Orlando, Fla., company that connects social media publishers with advertisers.
| Issuer: | Izea Inc.
|
| Issue: | Common stock
|
| Amount: | $19,200
|
| Shares: | 8,000
|
| Price: | $2.40
|
| Warrants: | No
|
| Investor: | Ryan S. Schram
|
| Settlement date: | Aug. 6
|
| Stock symbol: | OTCBB: IZEAD
|
| Stock price: | $1.75 at close Aug. 3
|
| Market capitalization: | $2.81 million
|
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