Investor Premier committed to purchase common shares at 30% discount
By Devika Patel
Knoxville, Tenn., Dec. 17 – New Media Insight Group, Inc. negotiated a $2 million equity purchase agreement with Premier Venture Partners, LLC on Dec. 10, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
Premier will buy common stock in tranches of at least 70,000 shares and up to 200% of the average daily trading volume of the stock for the five trading days preceding the put notice. The stock will be sold at a purchase price equal to 70% of the lowest individual daily volume weighted average price of the stock during the pricing period.
The investor received 71,429 common shares as a commitment fee.
The internet marketing company is based in Kamuela, Hawaii.
| Issuer: | New Media Insight Group, Inc.
|
| Issue: | Equity purchase agreement
|
| Amount: | $2 million
|
| Price: | 30% discount
|
| Warrants: | No
|
| Investor: | Premier Venture Partners, LLC
|
| Fees: | 71,429 common shares
|
| Settlement date: | Dec. 10
|
| Stock symbol: | OTCBB: NMED
|
| Stock price: | $1.10 at close Dec. 9
|
| Market capitalization: | $16.67 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.
