Company offers restricted common shares along with two-year warrants
By Devika Patel
Knoxville, Tenn., June 22 - Respect Your Universe, Inc. settled a $3.07 million private placement of stock on June 21, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The company sold 5,111,825 restricted common shares at $0.60 apiece. The per-share price represents a 58.9% discount to the June 20 closing share price of $1.46.
Investors also received warrants for 5,111,825 shares, which are each exercisable at $1.80 for two years. The strike price is a 42.86% premium to the June 20 closing share price.
The apparel retailer is based in Las Vegas.
| Issuer: | Respect Your Universe, Inc.
|
| Issue: | Restricted common stock
|
| Amount: | $3,067,095
|
| Shares: | 5,111,825
|
| Price: | $0.60
|
| Warrants: | For 5,111,825 shares
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $1.80
|
| Settlement date: | June 21
|
| Stock symbol: | OTCBB: RYUN
|
| Stock price: | $1.46 at close June 21
|
| Market capitalization: | $41.08 million
|
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