Deal sells 1.05 million shares at $0.50 per share, a 62.69% discount
By Devika Patel
Knoxville, Tenn., Jan. 28 - Mobetize Corp. raised $525,000 in a private placement of stock on Oct. 7, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The company sold 1.05 million common shares at $0.50 per share. The price per share is a 62.69% discount to the Jan. 27 closing share price of $1.34.
Based in Blaine, Wash., Mobetize offers mobile commerce, mobile payments and banking services for alternative financial companies, telecom operators, merchants and banks. The company has mobile and online products for remittance, airtime recharge, payments and billing.
| Issuer: | Mobetize Corp.
|
| Issue: | Common stock
|
| Amount: | $525,000
|
| Shares: | 1.05 million
|
| Price: | $0.50
|
| Warrants: | No
|
| Announcement date: | Jan. 28
|
| Settlement date: | Oct. 7
|
| Stock symbol: | OTCBB: MPAY
|
| Stock price: | $1.34 at close Jan. 27
|
| Market capitalization: | $36.11 million
|
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