Company sells units of one share and one warrant at $0.40 in offering
By Devika Patel
Knoxville, Tenn., June 5 - Trunity Holdings, Inc. settled a $3.58 million private placement of units on June 5, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The company sold 8,936,470 units of one common share and one warrant at $0.40 per unit.
Each warrant is exercisable at $1.00 for two years. The strike price is a 42.86% premium to $0.70, the June 4 closing share price.
ACGM, Inc. was the agent. Pan-African Investment Co., LLC, the lead investor, invested $1 million.
Proceeds will be used for operations and working capital.
Based in Newburyport, Mass., Trunity has developed a cloud-based knowledge management and sharing platform that focuses on the e-learning, virtual textbook, customer experience and education marketplaces.
| Issuer: | Trunity Holdings, Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $3,574,588
|
| Units: | 8,936,470
|
| Price: | $0.40
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $1.00
|
| Agent: | ACGM, Inc.
|
| Investor: | Pan-African Investment Co., LLC (lead, for $1 million)
|
| Settlement date: | June 5
|
| Stock symbol: | OTCBB: TNTY
|
| Stock price: | $0.70 at close June 4
|
| Market capitalization: | $25.95 million
|
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