MamaMancini's completes $355,000 of $1.61 million placement of stock

Company sells 1,070,002 shares at $1.50 apiece in first three tranches

By Devika Patel

Knoxville, Tenn., March 17 - MamaMancini's Holdings, Inc. settled a $355,000 third tranche of a $1.61 million private placement of stock on March 11, according to an 8-K filed Monday with the Securities and Exchange Commission. The deal raised $800,000 on Dec. 13 and $450,000 on Jan. 17.

The company sold 1,070,002 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, 300,001 shares in the second and 236,667 shares in the third tranche.

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:	$1,605,003
Shares:	1,070,002
Price:	$1.50
Warrants:	No
Settlement date:	Dec. 13 (for $800,000), Jan. 17 (for $450,000), March 11 (for $355,000)
Stock symbol:	OTCBB: MMMB
Stock price:	$2.50 at close Dec. 12
Market capitalization:	$70.14 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.