Company sells units of common shares, five-year warrants at $1.65
By Devika Patel
Knoxville, Tenn., Nov. 8 - Nevada Gold & Casinos Inc. priced a $4.33 million offering of units in a prospectus supplement filed Tuesday with the Securities and Exchange Commission. Ladenburg Thalmann & Co. Inc. is the agent for the offering.
The company will sell 2,625,652 units at $1.65 apiece. The units consist of one common share and 0.75 warrants, with each whole warrant exercisable at $2.18 for five years.
The strike price is a 43.42% premium to the Nov. 7 closing share price of $1.52.
Proceeds will be used for the acquisition of all of the shares of A.G. Trucano, Son & Grandsons, Inc. and related expenses.
The company is a Houston-based developer, owner and operator of gaming facilities in Colorado and Washington.
| Issuer: | Nevada Gold & Casinos Inc.
|
| Issue: | Units of one common share and 0.75 warrants
|
| Amount: | $4,332,326
|
| Units: | 2,625,652
|
| Price: | $1.65
|
| Warrants: | 0.75 warrants per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $2.18
|
| Agent: | Ladenburg Thalmann & Co. Inc.
|
| Pricing date: | Nov. 8
|
| Stock symbol: | Amex: UWN
|
| Stock price: | $1.52 at close Nov. 7
|
| Market capitalization: | $20.29 million
|
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