Interactive media company offers units of shares, three-year warrants
By Devika Patel
Knoxville, Tenn., March 17 - Next 1 Interactive, Inc. completed a private placement of units on March 15, according to an 8-K filed Thursday with the Securities and Exchange Commission. The $1.01 million offering had 12 investors and the minimum investment was $100,000.
Each unit, priced at $0.20, consists of one common share and two three-year warrants. The warrants are each exercisable at $0.25. The strike price is a 7.41% discount to $0.27, the March 14 closing share price.
Weston, Fla.-based Next 1 Interactive is an interactive media company with a focus on video and media advertising delivered over internet and television platforms.
| Issuer: | Next 1 Interactive, Inc.
|
| Issue: | Units of one common share and two warrants
|
| Amount: | $1,005,000
|
| Price: | $0.20
|
| Warrants: | Two warrants per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $0.25
|
| Settlement date: | March 15
|
| Stock symbol: | OTCBB: NXOI
|
| Stock price: | $0.27 at close March 15
|
| Market capitalization: | $10.48 million
|
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