Published on 4/15/2013 in the Prospect News PIPE Daily.
Morgan's Foods completes $2.11 million private placement of its stock
Deal sells 1.05 million shares at $2.00 each to Bandera Master Fund
By Devika Patel
Knoxville, Tenn., April 15 - Morgan's Foods, Inc. settled a $2.11 million private placement of stock with Bandera Master Fund LP on April 12, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 1,052,250 common shares at $2.00 apiece. The price per share is a 44.44% discount to the April 11 closing share price of $3.60.
Based in Cleveland, Morgan's Foods operates franchise restaurants.
| Issuer: | Morgan's Foods, Inc.
|
| Issue: | Common stock
|
| Amount: | $2,104,500
|
| Shares: | 1,052,250
|
| Price: | $2.00
|
| Warrants: | No
|
| Investor: | Bandera Master Fund LP
|
| Settlement date: | April 12
|
| Stock symbol: | OTCBB: MRFD
|
| Stock price: | $3.60 at close April 11
|
| Market capitalization: | $11.65 million
|
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