Deal sells 11,357,143 shares at $0.14 apiece to fund working capital
By Devika Patel
Knoxville, Tenn., Sept. 16 – Net Element Inc. said it settled a $1.59 million private placement of stock.
The company sold 11,357,143 common shares at $0.14 per share. The price per share is a 30% discount to the Sept. 15 closing share price of $0.20.
Investors included Kenges Rakishev, Oleg Firer, Steven Wolberg and William Healy.
Proceeds will be used as working capital.
Net Element is a Miami-based online media and technology company.
| Issuer: | Net Element Inc.
|
| Issue: | Common stock
|
| Amount: | $1.59 million
|
| Shares: | 11,357,143
|
| Price: | $0.14
|
| Warrants: | No
|
| Investor: | Kenges Rakishev, Oleg Firer, Steven Wolberg and William Healy
|
| Settlement date: | Sept. 16
|
| Stock symbol: | Nasdaq: NETE
|
| Stock price: | $0.20 at close Sept. 15
|
| Market capitalization: | $13.16 million
|
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