By Sheri Kasprzak
Atlanta, Feb. 9 - Real-Estateforlease.com said it has wrapped a private placement for $12,232,500.
The company sold 3,495,000 shares of series A convertible preferred stock at $3.50 each.
The preferreds pay annual dividends of 6% and are convertible into common shares at a rate of two common shares for each preferred.
Fordham Financial Management Inc. was the placement agent.
The company also said Wednesday it has acquired Uni-Pixel Displays Inc., an Austin, Texas-based company that commercializes flat-panel color display technology. The merger was a stock-for-stock deal, and Real-Estateforlease.com has changed its name to Uni-Pixel Inc. Its ticker symbol on the over-the-counter bulletin board has also changed to UNXL.
Real-Estateforlease.com will now operate under Uni-Pixel's business plan.
| Issuer: | Real-Estateforlease.com
|
| Issue: | Series A convertible preferred stock
|
| Amount: | $12,232,500
|
| Shares: | 3,495,000
|
| Price: | $3.50
|
| Dividends: | 6%
|
| Conversion ratio: | Into two common shares for every preferred
|
| Warrants: | No
|
| Placement agent: | Fordham Financial Management Inc.
|
| Settlement date: | Feb. 9
|
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