Radnor Research & Trading was agent for offering of shares, warrants
By Devika Patel
Knoxville, Tenn., Jan. 18 - Nova Lifestyle Inc. completed a $2.07 million private placement of units on Jan. 13, according to an 8-K filed Wednesday with the Securities and Exchange Commission. The offering was conducted via agent Radnor Research & Trading Co.
The company sold 517,000 units of one common share and a warrant for 15% of a share at $4.00 per unit. Each three-year warrant is exercisable at $4.50, which represents a 9.76% premium to the Jan. 12 closing share price of $4.10.
Based in Commerce, Calif., Nova designs, manufactures and sells modern home furniture.
| Issuer: | Nova Lifestyle Inc.
|
| Issue: | Units of one common share and one warrant for 15% of a share
|
| Amount: | $2,068,000
|
| Shares: | 517,000
|
| Price: | $4.00
|
| Warrants: | One warrant for 15% of a share per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $4.50
|
| Agent: | Radnor Research & Trading Co.
|
| Settlement date: | Jan. 13
|
| Stock symbol: | OTCBB: STVS
|
| Stock price: | $4.10 at close Jan. 13
|
| Market capitalization: | $73.38 million
|
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