By Devika Patel
Knoxville, Tenn., June 1 - NeuLion, Inc. said it has negotiated a US$10 million private placement of its 8% series A convertible preferred stock.
The company will sell the preferreds at C$0.60 each, a 28% premium over the C$0.47 closing price of its stock on May 28.
Proceeds will be used for general working capital.
Based in Plainview, N.Y., NeuLion is an internet protocol television company.
| Issuer: | NeuLion, Inc.
|
| Issue: | Series A convertible preferred stock
|
| Amount: | US$10 million
|
| Price: | C$0.60
|
| Dividends: | 8%
|
| Warrants: | No
|
| Pricing date: | June 1
|
| Stock symbol: | Toronto: NLN
|
| Stock price: | C$0.435 at close May 31
|
| Market capitalization: | C$58.4 million
|
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