By Sheri Kasprzak
Atlanta, Dec. 1 - Rentcash Inc. said Wednesday it will raise C$6.4 million in a private placement.
The company will sell 1 million shares at C$6.40 each through underwriter Acumen Finance Partners Ltd.
The offering is scheduled to close Dec. 16.
Based in Edmonton, Alta., Rentcash operates a payday cash advance service and a service that provides debit cards for those who cannot obtain them from banks. The company plans to use the proceeds from the deal for new store expansion and working capital.
| Issuer: | Rentcash Inc.
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| Issue: | Stock
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| Amount: | C$6.4 million
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| Shares: | 1 million
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| Price: | C$6.40
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| Warrants: | No
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| Underwriter: | Acumen Finance Partners Ltd.
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| Announcement date: | Dec. 1
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| Settlement date: | Dec. 16
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| Stock price: | C$7.40 at close Dec. 1
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