Deal sells 2.8 million common shares along with three-year warrants
By Devika Patel
Knoxville, Tenn., June 16 – Respect Your Universe, Inc. completed a $280,000 private placement of units on June 12, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 2.8 million units of one common share and one warrant at $0.10 per unit.
Each warrant is exercisable at $0.25 for three years. The strike price is a 212.5% premium to the June 11 closing share price of $0.08.
The apparel retailer is based in Las Vegas.
| Issuer: | Respect Your Universe, Inc.
|
| Issue: | Units of one common share and one warrant
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| Amount: | $280,000
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| Units: | 2.8 million
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| Price: | $0.10
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| Warrants: | One warrant per unit
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| Warrant expiration: | Three years
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| Warrant strike price: | $0.25
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| Settlement date: | June 12
|
| Stock symbol: | OTCBB: RYUN
|
| Stock price: | $0.08 at close June 11
|
| Market capitalization: | $9.71 million
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