Deal sells 24 million common shares at $0.05 each to Najak Investment
By Devika Patel
Knoxville, Tenn., Aug. 7 – MobileBits Holdings Corp. settled a $1.2 million private placement of stock with Najak Investment Co. on Aug. 1, according to an 8-K filed Thursday with the Securities and Exchange Commission. There may be additional tranches for up to $3.2 million.
The company sold 24 million common shares at $0.05 per share. The price per share is a 44.44% discount to the July 31 closing share price, $0.09.
MobileBits is a technology company based in Los Angeles.
| Issuer: | MobileBits Holdings Corp.
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| Issue: | Common stock
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| Amount: | $1.2 million
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| Shares: | 24 million
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| Price: | $0.05
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| Warrants: | No
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| Investor: | Najak Investment Co.
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| Settlement date: | Aug. 1
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| Stock symbol: | OTCBB: MBIT
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| Stock price: | $0.09 at close July 31
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| Market capitalization: | $8.65 million
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