Published on 7/10/2007 in the Prospect News PIPE Daily.
New Issue: NetSol raises $1.25 million from private placement of stock
By Sheri Kasprzak
New York, July 10 - NetSol Technologies, Inc. sealed a $1.25 million private placement.
The company sold 757,576 shares at $1.65 each to The Tail Wind Fund Ltd. and Solomon Strategic Holdings, Inc.
The investors also received warrants for 378,786 shares, exercisable at $1.65 each for five years. The warrants become exercisable after June 29, 2008.
NetSol, based in Calabasas, Calif., develops software used in the automobile financing and leasing business.
| Issuer: | NetSol Technologies, Inc.
|
| Issue: | Stock
|
| Amount: | $1.25 million
|
| Shares: | 757,576
|
| Price: | $1.65
|
| Warrants: | For 378,786 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $1.65
|
| Investors: | The Tail Wind Fund Ltd.; Solomon Strategic Holdings, Inc.
|
| Settlement date: | June 29
|
| Stock symbol: | Nasdaq: NTWK
|
| Stock price: | $1.74 at close June 29
|
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