By Sheri Kasprzak
New York, May 7 - Natural Health Trends Corp. concluded a $2,990,822 private placement of series A convertible preferred stock.
The company issued 1,759,307 shares of the preferreds at $1.70 each.
The 7% preferreds are convertible into common shares on a one-for-one basis.
The investors also received warrants for 1,759,307 shares of common stock, exercisable at prices ranging from $3.80 to $5.00 each for six years.
Proceeds will be used for working capital.
Dallas-based Natural Health Trends is a direct-selling and e-commerce company focused on personal care products.
| Issuer: | Natural Health Trends Corp.
|
| Issue: | Series A convertible preferred stock
|
| Amount: | $2,990,822
|
| Shares: | 1,759,307
|
| Price: | $1.70
|
| Dividends: | 7%
|
| Conversion ratio: | One-for-one
|
| Warrants: | For 1,759,307 common shares
|
| Warrant expiration: | Six years
|
| Warrant strike prices: | From $3.80 to $5.00
|
| Settlement date: | May 7
|
| Stock symbol: | Nasdaq: BHIP
|
| Stock price: | $2.34 at close May 4
|
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