Deal consists of 515,198 preferreds, sold with a half-share warrant
By Devika Patel
Knoxville, Tenn., Aug. 3 - Merriman Holdings Inc. settled a $324,575 private placement of series E preferred stock on July 30, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold 515,198 preferreds at $0.63 per share.
Investors also received a half-share warrant for each preferred bought. The warrants are each exercisable at $0.63 for five years.
The price per preferred and warrant strike price are a 31.25% premium to the July 27 closing share price of $0.48.
Merriman Holdings, formerly Merriman Curhan Ford Group, Inc., is a financial services holding company based in San Francisco.
| Issuer: | Merriman Holdings Inc.
|
| Issue: | Series E preferred stock
|
| Amount: | $324,575
|
| Preferreds: | 515,198
|
| Price: | $0.63
|
| Warrants: | 212,420
|
| Warrant expiration: | One half-share warrant for each preferred
|
| Warrant strike price: | $0.63
|
| Settlement date: | July 30
|
| Stock symbol: | Nasdaq: MERR
|
| Stock price: | $0.48 at close July 27
|
| Market capitalization: | $2.95 million
|
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