By Sheri Kasprzak
New York, Feb. 2 - VCG Holding Corp. wrapped a private placement for $21.3 million.
The company sold 3 million shares at $7.10 each to a group of institutional investors. The price per share is an 8% discount to the average market price on Jan. 25.
Proceeds will be used for acquisitions of nightclubs as part of a strategic plan.
Based in Denver, VCG operates a chain of adult nightclubs.
| Issuer: | VCG Holding Corp.
|
| Issue: | Stock
|
| Amount: | $21.3 million
|
| Shares: | 3 million
|
| Price: | $7.10
|
| Warrants: | No
|
| Settlement date: | Feb. 2
|
| Stock symbol: | Amex: PTT
|
| Stock price: | $8.76 at close Feb. 2
|
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