By Devika Patel
Knoxville, Tenn., Aug. 12 - Trim Holding Group settled a $42 million private placement of stock with Allkey Ltd. on Aug. 6, according to an 8-K filed Thursday with the Securities and Exchange Commission. The purchase price is payable in periodic tranches over a seven-month period.
The company sold 6 million common shares at $7.00 per share to Allkey, along with 9 million warrants.
Each seven-year warrant has an exercise price of $7.00 per share. The strike price represents a 30.35% discount to the $10.05 closing share price on Aug. 5.
Trim Holding Group is a New York-based developer of health care products.
| Issuer: | Trim Holding Group
|
| Issue: | Common stock
|
| Amount: | $42 million
|
| Shares: | 6 million
|
| Price: | $7.00
|
| Warrants: | 9 million
|
| Warrant expiration: | Seven years
|
| Warrant strike price: | $7.00
|
| Investor: | Allkey Ltd.
|
| Settlement date: | Aug. 6
|
| Stock symbol: | Pink Sheets: TRHG
|
| Stock price: | $10.05 on Aug. 6
|
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