By LLuvia Mares
New York, Aug. 22 - Trans World Corp. announced Wednesday it completed a $3,500,000 private placement of shares.
The company sold 1,000,000 shares to two institutional investors at $3.50 each.
Carr Securities Corp. acted as the broker.
The company plans to use the proceeds to raise capital for the construction of the first phase of a four-star hotel in Znojmo, Czech Republic.
New York City-based Trans World owns and operates five American-themed casinos in Europe.
Issuer: Trans World Corp.
Issue: Stock
Amount: $3,500,000
Shares: 1,000,000
Price: $3.50
Warrants: No
Agent: Carr Securities Corp.
| Announcement date: | Aug. 22
|
| Stock symbol: | OTCBB: TWOC.OB
|
| Stock price: | $4.15 at closing Aug. 21
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