Deal consists of 666,667 preferreds, which convert at $0.30 per share
By Devika Patel
Knoxville, Tenn., Nov. 6 – Merriman Holdings Inc. settled a $200,000 private placement of 4.5% series F preferred stock on Oct. 30, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold 666,667 preferreds at $0.30 per preferred. Each preferred converts to common stock at $0.30 per share.
The price per preferred and conversion price are a 50% premium to the Oct. 29 closing share price of $0.20.
Merriman Holdings is a financial services holding company based in San Francisco.
| Issuer: | Merriman Holdings Inc.
|
| Issue: | Series F preferred stock
|
| Amount: | $200,000
|
| Preferreds: | 666,667
|
| Dividends: | 4.5%
|
| Price: | $0.30
|
| Conversion price: | $0.30
|
| Warrants: | No
|
| Settlement date: | Oct. 30
|
| Stock symbol: | Nasdaq: MERR
|
| Stock price: | $0.20 at close Oct. 29
|
| Market capitalization: | $768,171
|
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