Proceeds go for general corporate purposes, to fund growth initiatives
By Devika Patel
Knoxville, Tenn., Nov. 29 - Moggle, Inc. sold 10 million shares in a private placement on Nov. 16, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold the common shares at $0.20 apiece for $2 million. The price per share is a 77.53% discount to $0.89, the Nov. 24 closing share price.
Proceeds will be used for general corporate purposes and to fund growth initiatives.
"This financing will assist us further in growing our business as we prepare to implement and execute on our growth strategy," chairman Jo Webber said in a press release.
Bala Cynwyd, Penn.-based Moggle delivers a technology platform designed for the management of the Under 18 age group in the global online market.
| Issuer: | Moggle, Inc.
|
| Issue: | Common stock
|
| Amount: | $2 million
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| Shares: | 10 million
|
| Price: | $0.20
|
| Warrants: | No
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| Settlement date: | Nov. 26
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| Stock symbol: | OTCBB: MMOG
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| Stock price: | $0.91 at close Nov. 26
|
| Market capitalization: | $43.52 million
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