Published on 1/11/2010 in the Prospect News PIPE Daily.
New Issue: NeoMedia seals $2.5 million private placement of convertible preferreds
By Devika Patel
Knoxville, Tenn., Jan. 11 - NeoMedia Technologies, Inc. raised $2.5 million from a private placement of series D convertible preferred stock on Jan. 5, according to an 8-K filed Monday with the Securities and Exchange Commission. YA Global Investments, LP is the investor.
The company sold 25,000 preferreds. They are convertible into 100,000 common shares.
YA also received a warrant for 225 million shares, which is exercisable at $0.01 until Jan. 5, 2017.
NeoMedia is a technology company based in Fort Myers, Fla.
| Issuer: | NeoMedia Technologies, Inc.
|
| Issue: | Series D convertible preferred stock
|
| Amount: | $2.5 million
|
| Shares: | 25,000
|
| Conversion ratio: | Into 100,000 shares
|
| Warrants: | For 225 million shares
|
| Warrant expiration: | Jan. 5, 2017
|
| Warrant strike price: | $0.01
|
| Investor: | YA Global Investments, LP
|
| Settlement date: | Jan. 5
|
| Stock symbol: | OTCBB: NEOM
|
| Stock price: | $0.01 at close Jan. 5
|
| Market capitalization: | $22.9 million
|
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