Company sells 13,333,334 shares at $0.15 per share, a 40% discount
By Devika Patel
Knoxville, Tenn., Feb. 29 - Net Element Inc. settled a $2 million private placement of stock with Kenges Rakishev on Feb. 23, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The company sold 13,333,334 common shares at $0.15 apiece. The price per share is a 40% discount to the Feb. 22 closing share price of $0.25.
Net Element is a Miami-based online media and technology company.
| Issuer: | Net Element Inc.
|
| Issue: | Common stock
|
| Amount: | $2 million
|
| Shares: | 13,333,334
|
| Price: | $0.15
|
| Warrants: | No
|
| Investor: | Kenges Rakishev
|
| Settlement date: | Feb. 23
|
| Stock symbol: | Pink Sheets: NETE
|
| Stock price: | $0.25 at close Feb. 22
|
| Market capitalization: | $183.78 million
|
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