By Devika Patel
Knoxville, Tenn., July 29 - Mooter Media Ltd. will raise A$1.5 million in a private placement of stock, according to a press release from Findlay Securities Ltd., the parent company of underwriter Findlay & Co. Stockbrokers.
The deal will be conducted in two tranches, with the first tranche of 10 million shares selling at A$0.05 apiece for A$500,000.
The second tranche will consist of a number of shares necessary to raise A$1 million at a price per share equal to 110% of the volume weighted average price for the four-month period ending Aug. 31.
Sydney, Australia-based Mooter Media offers targeted internet advertising services.
| Issuer: | Mooter Media Ltd.
|
| Issue: | Ordinary stock
|
| Amount: | A$1.5 million
|
| Price: | A$0.05 (for 10 million shares)
|
| Warrants: | No
|
| Underwriter: | Findlay & Co. Stockbrokers
|
| Pricing date: | July 29
|
| Stock symbol: | Australia: MMZ
|
| Stock price: | A$0.03 at close July 29
|
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