New Issue: LYFE Communications arranges $15.2 million private placement of shares

By Devika Patel

Knoxville, Tenn., June 17 - LYFE Communications, Inc. negotiated a $15.2 million private placement of stock on June 17, according to an 8-K filed Thursday with the Securities and Exchange Commission.

The investors were Eagle View Investments, LLC, which will invest $8.2 million, and Michael Justin Hoopes, who will invest $7 million. The investors paid for the shares through promissory notes.

The company will sell 10,109,059 common shares.

Eagle View will buy 3,333,333 shares at $1.50 per share by Aug. 5 and 1,684,211 shares at $1.90 apiece by Sept. 21. Hoopes will buy 1,818,182 shares at $1.10 per share by June 10 and 3,333,333 shares at $1.50 per share by July 21.

Based in Salt Lake City, LYFE is communications services provider.

Issuer:	LYFE Communications, Inc.
Issue:	Common stock
Amount:	$15.2 million
Shares:	10,109,059
Price:	$1.10 (for 1,818,182 shares), $1.50 (for 6,666,666 shares), $1.90 (for 1,684,211 shares)
Warrants:	No
Investors:	Eagle View Investments, LLC (for $8.2 million), Michael Justin Hoopes (for $7 million)
Pricing date:	June 17
Settlement date:	Sept. 21
Stock symbol:	OTCBB: LYFE
Stock price:	$2.50 at close June 17

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