By Sheri Kasprzak
Atlanta, Feb. 23 - Teamsphere Ltd. said it is in the process of closing an S$21,073,500 private placement of stock.
The company will sell up to 234,150,000 shares at S$0.09 each to DMG & Partners Securities Pte. Ltd.
The price per share is a 9.4% discount to the weighted average price of S$0.0993 for five full market days ended Feb. 22.
Based in Singapore, Teamsphere is a steel company. The majority of the proceeds will be used to repay bank loans, and the remainder will be used for working capital.
| Issuer: | Teamsphere Ltd.
|
| Issue: | Stock
|
| Amount: | S$21,073,500
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| Shares: | 234,150,000
|
| Price: | S$0.09
|
| Warrants: | No
|
| Investor: | DMG & Partners Securities Pte. Ltd.
|
| Announcement date: | Feb. 22
|
| Stock price: | S$0.0993 at close Feb. 22
|
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