Published on 4/30/2010 in the Prospect News PIPE Daily.
New Issue: Nexaira wraps $575,000 tranche of $1 million private placement of units
By Devika Patel
Knoxville, Tenn., April 30 - Nexaira Wireless, Inc. completed a $575,000 tranche of a $1 million non-brokered private placement of units on April 28, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company is selling 1 million units of one common share and one warrant at $1.00 apiece. It sold 575,000 units in this tranche. Each warrant is exercisable at $1.50 for two years.
Based in Toronto, Nexaira develops wireless routing solutions.
Issuer: | Nexaira Wireless, Inc.
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Issue: | Units of one common share and one warrant
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Amount: | $1 million
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Units: | 1 million
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Price: | $1.00
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Warrants: | One warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | $1.50
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Agent: | Non-brokered
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Settlement date: | April 28 (for $575,000)
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Stock symbol: | OTCBB: NXWI
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Stock price: | $1.00 at close April 28
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Market capitalization: | $57.6 million
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