Company sells 833,335 shares at $1.50 per share in first two tranches
By Devika Patel
Knoxville, Tenn., Jan. 22 - MamaMancini's Holdings, Inc. completed a $450,000 second tranche of a private placement of stock on Jan. 17, according to an 8-K filed Wednesday with the Securities and Exchange Commission. The deal raised $800,000 on Dec. 13.
The company sold 833,335 common shares at $1.50 per share, a 40% discount to the closing share price of $2.50 on Dec. 12. It sold 533,334 shares in the first tranche and 300,001 shares in the second.
Proceeds will be used for general corporate purposes, including general and administrative expenses.
Based in East Rutherford, N.J. MamaMancini's manufactures and distributes a line of beef meatballs and sauces.
| Issuer: | MamaMancini's Holdings, Inc.
|
| Issue: | Common stock
|
| Amount: | $1.25 million
|
| Shares: | 833,335
|
| Price: | $1.50
|
| Warrants: | No
|
| Settlement date: | Dec. 13 (for $800,000), Jan. 17 (for $450,000)
|
| Stock symbol: | OTCBB: MMMB
|
| Stock price: | $2.50 at close Dec. 12
|
| Market capitalization: | $96.75 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
