Company sells units of shares and warrants at $0.20, $0.15 per unit
By Devika Patel
Knoxville, Tenn., March 26 - Rubicon Financial Inc. completed a $100,000 private placement of units on Dec. 30, according to an 8-K filed Wednesday with the Securities and Exchange Commission. The company also raised $400,000 in a private placement of units on March 3.
The company sold 500,000 units of one common share and one warrant at $0.20 per unit in the first placement. It sold 2,666,667 units of one common share and one warrant at $0.15 per unit in the second sale.
Each three-year warrant from the first sale is exercisable at $0.50. The strike price is a 117.39% premium to the Dec. 27 closing share price of $0.23.
Each five-year warrant from the second sale is exercisable at $0.25. The strike price is a 25% premium to the Feb. 28 closing share price of $0.20.
Based in Irvine, Calif., Rubicon Financial is a holding company.
| Issuer: | Rubicon Financial Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $500,000
|
| Warrants: | One warrant per unit
|
| Stock symbol: | OTCBB: RBCF
|
| Market capitalization: | $5.03 million
|
|
|
| First sale
|
| Amount: | $100,000
|
| Units: | 500,000
|
| Price: | $0.20
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $0.50
|
| Settlement date: | Dec. 30
|
| Stock price: | $0.23 at close Dec. 27
|
|
|
| Second sale
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| Amount: | $400,000
|
| Units: | 2,666,667
|
| Price: | $0.15
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.25
|
| Settlement date: | March 3
|
| Stock price: | $0.20 at close Feb. 28
|
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