10.05 million shares sold at $0.199 with warrants for 2,512,500 shares
By Devika Patel
Knoxville, Tenn., Jan. 4 – Nxt-ID, Inc. completed a $2 million private placement of stock with WorldVentures Holdings, LLC on Dec. 31, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The company sold 10.05 million common shares at $0.199 per share. The price per share reflects a 20.4% discount to the Dec. 30 closing share price of $0.25.
WorldVentures also received 31-month warrants for 2,512,500 shares. The warrants are each exercisable at $0.75, a 200% premium to the Dec. 30 closing share price.
The Oxford, Conn., company offers security solutions for mobile devices.
| Issuer: | Nxt-ID, Inc.
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| Issue: | Common stock
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| Amount: | $2 million
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| Shares: | 10.05 million
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| Price: | $0.199
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| Warrants: | For 2,512,500 shares
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| Warrant expiration: | 31 months
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| Warrant strike price: | $0.75
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| Investor: | WorldVentures Holdings, LLC
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| Settlement date: | Dec. 31
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| Stock symbol: | Nasdaq: NXTD
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| Stock price: | $0.25 at close Dec. 30
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| Market capitalization: | $8.65 million
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