Shares, warrant offering slated to fund finance company's development
By Devika Patel
Knoxville, Tenn., March 29 - VSA Capital Group plc said it has secured a £5 million three year equity finance facility with Darwin Strategic Ltd. to finance company development.
The shares will be sold at a 6% discount to a reference price determined during the five, 10 or 15 trading days following an advance notice.
Darwin also received warrants for 5 million shares, which are each exercisable at 1p for three years. The strike price reflects a 58.73% premium to the March 28 closing share price of 0.63p.
VSA is the parent of the London-based financial services company VSA Capital Ltd.
| Issuer: | VSA Capital Group plc
|
| Issue: | Equity finance facility
|
| Amount: | £5 million
|
| Tenor: | Three years
|
| Price: | 6% discount
|
| Warrants: | For 5 million shares
|
| Warrant expiration: | Three years
|
| Warrant strike price: | 1p
|
| Investor: | Darwin Strategic Ltd.
|
| Settlement date: | March 29
|
| Stock symbol: | London: VSA
|
| Stock price: | 0.55p at close March 29
|
| Market capitalization: | £4.07 million
|
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