By Jennifer Chiou
New York, May 5 - Roomlinx, Inc. wrapped a $1 million private placement of common stock to affiliates of Verition Capital, according to an 8-K filing with the Securities and Exchange Commission.
The company sold 25 million shares at $0.04 apiece. Specifically, it sold 22.5 million shares to Verition Multi-Strategy Master Fund Ltd. and 2.5 million shares to Wilmot Advisors LLC.
Proceeds will be used to fund installation expenses for properties installing the Roomlinx Interactive TV product and to fuel sales and marketing efforts.
Denver-based Roomlinx provides wireless and wired internet services to the hospitality industry.
| Issuer: | Roomlinx, Inc.
|
| Issue: | Common stock
|
| Amount: | $1 million
|
| Shares: | 25 million
|
| Price: | $0.04 per share
|
| Investors: | Verition Multi-Strategy Master Fund Ltd. (22.5 million shares) and Wilmot Advisors LLC (2.5 million shares)
|
| Settlement date: | May 5
|
| Stock symbol: | OTCBB: RMLX
|
| Stock price: | $0.05 at close May 4
|
| Market capitalization: | $19.36 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
