Deal sells common shares at $0.50 per share to fund general operations
By Devika Patel
Knoxville, Tenn., Jan. 22 - Respect Your Universe, Inc. said it completed a $1 million private placement of stock on Monday. It may raise another $4 million on the same terms.
The company sold 2 million common shares at $0.50 per share. The price is identical to the Jan. 18 closing share price.
Proceeds will be used for general operations.
The apparel retailer is based in Las Vegas.
| Issuer: | Respect Your Universe, Inc.
|
| Issue: | Common stock
|
| Amount: | $1 million
|
| Shares: | 2 million
|
| Price: | $0.50
|
| Warrants: | No
|
| Settlement date: | Jan. 21
|
| Stock symbol: | OTCBB: RYUN
|
| Stock price: | $0.50 at close Jan. 18
|
| Market capitalization: | $24.4 million
|
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