Deal sells 1,996,880 units of shares and three-year warrants at $2.985
By Devika Patel
Knoxville, Tenn., April 26 – Resonant Inc. settled a $5.96 million private placement of units with 72 investors on April 25, according to an 8-K filed Tuesday with the Securities and Exchange Commission. The deal priced on April 20.
The company sold 1,996,880 units of one common share and one warrant at $2.985 per unit.
Each warrant is exercisable at $2.86 for three years. The strike price is a 1.04% discount to $2.89, the April 19 closing share price.
National Securities Corp. and Drexel Hamilton, LLC were the agents.
Robert Hammond purchased 5,000 units for $14,925; Neal Fenzi purchased 5,000 units for $14,925; Terry Lingren purchased 5,000 units for $14,925; George Holmes purchased 8,300 units for $24,776; Michael Fox purchased 10,700 units for $31,940; Richard Kornfeld purchased 20,000 units for $59,700; and John Major purchased 33,500 units for $100,000.
The Santa Barbara, Calif., company creates filter designs for radio frequency front-ends for the mobile device industry.
| Issuer: | Resonant Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $5,960,687
|
| Units: | 1,996,880
|
| Price: | $2.985
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $2.86
|
| Agents: | National Securities Corp. and Drexel Hamilton, LLC
|
| Investors: | Robert Hammond (for $14,925); Neal Fenzi (for $14,925); Terry Lingren (for $14,925); George Holmes (for $24,776); Michael Fox (for $31,940); Richard Kornfeld (for $59,700); and John Major (for $100,000)
|
| Pricing date: | April 20
|
| Settlement date: | April 25
|
| Stock symbol: | Nasdaq: RESN
|
| Stock price: | $2.89 at close April 19
|
| Market capitalization: | $24.67 million
|
© 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.
