Offering sells common shares with 0.25 warrants for every share bought
By Devika Patel
Knoxville, Tenn., May 1 - Merriman Holdings Inc. settled a $729,990 private placement of stock on April 26, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The company sold 24,333,000 common shares. The price per share of $0.03 reflects a 70% discount to the April 25 closing share price of $0.10.
The investors also received one warrant for 0.25 shares for each share purchased. Each five-year warrant is exercisable at $0.04. The strike price is a 60% discount to the April 25 closing price.
Merriman is a financial services holding company based in San Francisco.
| Issuer: | Merriman Holdings Inc.
|
| Issue: | Common stock
|
| Amount: | $729,990
|
| Shares: | 24,333,000
|
| Price: | $0.03
|
| Warrants: | One warrant for 0.25 shares per share
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.04
|
| Settlement date: | April 26
|
| Stock symbol: | OTCBB: MERR
|
| Stock price: | $0.10 at close April 25
|
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