MamaMancini's completes $625,000 of $2.23 million placement of shares

Company sells 1,486,667 shares at $1.50 apiece in first four tranches

By Devika Patel

Knoxville, Tenn., April 17 - MamaMancini's Holdings, Inc. settled a $625,000 fourth tranche of a $2.23 million private placement of stock on April 16, according to an 8-K filed Monday with the Securities and Exchange Commission. The deal raised $800,000 on Dec. 13, $450,000 on Jan. 17 and $355,000 on March 11.

The company sold 1,486,667 common shares at $1.50 per share, a 40% discount to the closing share price of $2.50 on Dec. 12. It sold about 533,334 shares in the first tranche, 300,001 shares in the second, 236,667 shares in the third tranche and 416,669 shares in the fourth 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:	$2.23 million
Shares:	1,486,667
Price:	$1.50
Warrants:	No
Settlement dates:	Dec. 13 (for $800,000), Jan. 17 (for $450,000), March 11 (for $355,000), April 16 (for $625,000)
Stock symbol:	OTCBB: MMMB
Stock price:	$2.50 at close Dec. 12
Market capitalization:	$68.19 million

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