By Devika Patel
Knoxville, Tenn., Dec. 2 - Rotate Black, Inc. completed a $1 million private placement of stock on Nov. 23, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The company sold 2 million common shares at $0.50 per share.
Proceeds will be used for general working capital.
Rotate Black is a Petoskey, Mich., resort and gaming company.
| Issuer: | Rotate Black, Inc.
|
| Issue: | Common stock
|
| Amount: | $1 million
|
| Shares: | 2 million
|
| Price: | $0.50
|
| Warrants: | No
|
| Settlement date: | Nov. 23
|
| Stock symbol: | OTCBB: ROBK
|
| Stock price: | $0.49 at close Nov. 23
|
| Market capitalization: | $37.9 million
|
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