Deal sells shares at $1.05 apiece to lone investor Vincent Wenyong Shi
By Devika Patel
Knoxville, Tenn., March 29 – NQ Mobile Inc. said it will conduct a $100.8 million private placement of stock with chairman and chief operating officer Vincent Wenyong Shi.
The company will sell 96 million class A common shares at $1.05 per share. The price per share represents a 77.9% discount to the March 28 closing share price of $4.75.
NQ is a provider of mobile internet services with dual headquarters in Dallas and Beijing.
| Issuer: | NQ Mobile Inc.
|
| Issue: | Class A common stock
|
| Amount: | $100.8 million
|
| Shares: | 96 million
|
| Price: | $1.05
|
| Warrants: | No
|
| Investor: | Vincent Wenyong Shi
|
| Pricing date: | March 29
|
| Stock symbol: | NYSE: NQ
|
| Stock price: | $4.75 at close March 28
|
| Market capitalization: | $469.58 million
|
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