Deal sells 7.94 million shares at $0.70 apiece to five investors
By Devika Patel
Knoxville, Tenn., Nov. 30 - Virtual Piggy, Inc. settled a $5.56 million private placement of stock on Nov. 30, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold 7,942,858 common shares at $0.70 per share to five investors. The per-share price represents a 47.37% discount to the Nov. 29 closing share price of $1.33.
Virtual Piggy is a Philadelphia-based company developing its online "Piggy Bank" security service that will allow parents to set up and control their children's spending online.
| Issuer: | Virtual Piggy, Inc.
|
| Issue: | Common stock
|
| Amount: | $5.56 million
|
| Shares: | 7,942,858
|
| Price: | $0.70
|
| Warrants: | No
|
| Settlement date: | Nov. 30
|
| Stock symbol: | OTCBB: VPIG
|
| Stock price: | $1.33 at close Nov. 29
|
| Market capitalization: | $126.46 million
|
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