Agreement inked with Centurion to sell common shares over two years
By Devika Patel
Knoxville, Tenn., April 18 - Medisafe 1 Technologies Corp. settled a $5 million investment agreement with Centurion Private Equity, LLC on April 13, according to an 8-K filed Thursday with the Securities and Exchange Commission.
Centurion has committed to purchase up to $5 million of the company's common stock over two years. The shares will be sold at a price equal to 95% of the average of the three lowest daily volume weighted average prices of the stock for all trading days during the 15-trading-day pricing period following a put notice or of the lowest daily volume weighted average price of the stock during the 15-trading-day period immediately following a put notice minus $0.01, whichever is lower.
The company may draw the funds in tranches of up to $500,000, which will be sold in the form of up to 1.5 million shares or 15% of the trading volume of the stock during any pricing period.
The investor also received 925,526 common shares as a commitment fee and 91,033 shares as a preparation fee.
Medisafe is a medical technology company based in Jerusalem.
| Issuer: | Medisafe 1 Technologies Corp.
|
| Issue: | Investment agreement
|
| Amount: | $5 million
|
| Tenor: | Two years
|
| Price: | 5% discount or more
|
| Warrants: | No
|
| Investor: | Centurion Private Equity, LLC
|
| Fees: | 1,016,559 shares
|
| Settlement date: | April 13
|
| Stock symbol: | OTCBB: MFTH
|
| Stock price: | $0.13 at close April 13
|
| Market capitalization: | $6.94 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.
