Deal funds working capital; 22,782,674 units sold at C$0.20 per unit
By Devika Patel
Knoxville, Tenn., Sept. 25 - NeuLion, Inc. said it settled a C$4.56 million private placement of units. D&D Securities Inc. was the agent for a portion of the deal.
The company sold 22,782,674 units of one common share and one half-share warrant at C$0.20 per unit.
Each whole warrant will be exercisable at $0.30 for 30 months.
Charles B. Wang, the chairman of the company, invested C$466,900 and loaned the company C$533,100 that will be convertible into 2,665,500 units. G. Scott Paterson, the vice chairman of the company, invested C$349,000. In addition, a C$533,100 convertible note was converted into units.
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: | Units of one common share and one half-share warrant
|
| Amount: | C$4,556,535
|
| Units: | 22,782,674
|
| Price: | C$0.20
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 30 months
|
| Warrant strike price: | $0.30
|
| Agent: | D&D Securities Inc.
|
| Investors: | Charles B. Wang (for C$466,900), G. Scott Paterson (for C$349,000)
|
| Settlement date: | Sept. 25
|
| Stock symbol: | Toronto: NLN
|
| Stock price: | C$0.25 at close Sept. 24
|
| Market capitalization: | C$35.3 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
