By Sheri Kasprzak
New York, Aug. 10 - Rocket City Enterprises, Inc. completed a private placement of stock for $5.2 million.
A group of institutional and sophisticated investors that includes Julius Baer Asset Management, Anima Funds and Banque Jacob Safra bought shares from Rocket City.
The exact terms of the deal were unavailable at press time Friday.
Continental Advisors SA was the placement agent.
Proceeds will be used for new business initiatives.
Based in Orlando, Fla., Rocket City acquires, manages, supervises and operates corporations in the auction services sector.
| Issuer: | Rocket City Enterprises, Inc.
|
| Issue: | Stock
|
| Amount: | $5.2 million
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| Investors: | Julius Baer Asset Management, Anima Funds, Banque Jacob Safra
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| Agent: | Continental Advisors SA
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| Settlement date: | Aug. 10
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| Stock symbol: | Pink Sheets: RCTY
|
| Stock price: | $0.915 at close Aug. 10
|
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