Published on 8/18/2005 in the Prospect News PIPE Daily.
New Issue: Nexia receives $10 million equity line from Dutchess
By Sheri Kasprzak
New York, Aug. 18 - Nexia Holdings, Inc. said it has received a $10 million equity line from Dutchess Private Equities Fund, LP.
Under the terms of the three-year agreement, Dutchess will buy shares from Nexia at 95% of the lowest closing bid price for the five trading days after notice of a draw.
Based in Salt Lake City, Nexia is a holding company for financial consulting and real estate investment concerns.
| Issuer: | Nexia Holdings, Inc.
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| Issue: | Equity line
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| Amount: | $10 million
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| Price: | 95% of the lowest closing bid price for five trading days before a draw
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| Tenor: | Three years
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| Investor: | Dutchess Private Equities Fund, LP
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| Settlement date: | Aug. 15
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| Stock price: | $0.0001 at close Aug. 15
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