By Sheri Kasprzak
New York, Dec. 30 - ROO Group, Inc. said it issued $5.1 million in a private placement of stock.
The company sold 1.7 million shares at $3.00 each.
The investors received warrants equal to 40% of the shares purchased. The warrants are exercisable at $4.00 each for five years.
Pali Capital, Inc. and Brimberg & Co. were the placement agents.
Based in New York, ROO creates streaming video and other content for the internet.
| Issuer: | ROO Group, Inc.
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| Issue: | Stock
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| Amount: | $5.1 million
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| Shares: | 1.7 million
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| Price: | $3.00
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| Warrants: | Equal to 40% of the shares purchased
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| Warrant expiration: | Five years
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| Warrant strike price: | $4.00
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| Placement agents: | Pali Capital, Inc. and Brimberg & Co.
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| Settlement date: | Dec. 28
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| Stock price: | $3.00 at close Dec. 28
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