Deal offers 339,000 shares at $4.00 apiece to fund corporate purposes
By Devika Patel
Knoxville, Tenn., July 9 – Remark Media, Inc. arranged a $1.36 million registered direct offering of stock, according to a prospectus supplement filed Thursday with the Securities and Exchange Commission.
The company will sell 339,000 common shares at $4.00 per share. The price per share is a 2.44% discount to the July 8 closing share price of $4.10.
Settlement is expected July 14.
Proceeds will be used for general corporate purposes.
Remark is an online media company based in Las Vegas.
| Issuer: | Remark Media, Inc.
|
| Issue: | Common shares
|
| Amount: | $1,356,000
|
| Shares: | 339,000
|
| Price: | $4.00
|
| Warrants: | No
|
| Pricing date: | July 9
|
| Settlement date: | July 14
|
| Stock symbol: | Nasdaq: MARK
|
| Stock price: | $4.10 at close July 8
|
| Market capitalization: | $58.32 million
|
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