Series A convertible preferreds sold to Jan, Ulf and Frederic Telander
By Devika Patel
Knoxville, Tenn., Feb. 18 – ProGreen Properties, Inc. negotiated a $300,000 private placement of series A convertible preferred stock on Feb. 9, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company will sell 300,000 preferreds at $1.00 apiece. Each preferred is convertible into common shares at $0.033 per share.
Company president and chief executive officer Jan Telander, Ulf Telander and Frederic Telander are the investors. Each will invest $100,000.
Settlement is expected April 30.
Based in Birmingham, Mich., ProGreen Properties purchases income-producing real estate assets in Michigan.
| Issuer: | ProGreen Properties, Inc.
|
| Issue: | Series A convertible preferred stock
|
| Amount: | $300,000
|
| Preferreds: | 300,000
|
| Price: | $1.00
|
| Conversion price: | $0.033
|
| Warrants: | No
|
| Investors: | Jan Telander (for $100,000), Ulf Telander (for $100,000) and Frederic Telander (for $100,000)
|
| Pricing date: | Feb. 9
|
| Settlement date: | April 30
|
| Stock symbol: | OTCBB: PGEI
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
