Company sells class 3 preference shares at C$0.60 to investment group
By Devika Patel
Knoxville, Tenn., Oct. 1 - NeuLion, Inc. sold 17,176,818 class 3 preference shares in a private placement, according to an 8-K filed Friday with the Securities and Exchange Commission. The offer priced June 1.
The company sold the preferreds at C$0.60 each for $10 million. The purchase price is a 28% premium over the C$0.47 closing price of the company's stock on May 28.
The investors were JK&B Capital V, LP, JK&B Capital V Special Opportunities Fund, LP and the Gabriel A. Battista Revocable Trust.
Proceeds will be used for general working capital purposes.
Based in Plainview, N.Y., NeuLion is an internet protocol television company.
| Issuer: | NeuLion, Inc.
|
| Issue: | Class 3 preference shares
|
| Amount: | $10 million
|
| Price: | C$0.60
|
| Warrants: | No
|
| Investors: | JK&B Capital V, LP, JK&B Capital V Special Opportunities Fund, LP and the Gabriel A. Battista Revocable Trust
|
| Pricing date: | June 1
|
| Settlement date: | Sept. 29
|
| Stock symbol: | Toronto: NLN
|
| Stock price: | C$0.435 at close May 31
|
| Market capitalization: | C$58.4 million
|
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