KVM Capital Partners commits to buy common shares over three-year term
By Devika Patel
Knoxville, Tenn., Aug. 7 - Wild Craze, Inc. negotiated a $2.8 million three-year investment agreement with KVM Capital Partners on Aug. 2, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The price per share will be equal to a 22.5% discount to the average of the three lowest closing bids during the seven trading days following a put notice.
KVM also received a facility fee of 100,000 common shares.
The Myrtle Beach, S.C., consumer products holding company is building a diversified portfolio of products for development into household brand names in the U.S. and global marketplace.
| Issuer: | Wild Craze, Inc.
|
| Issue: | Investment agreement
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| Amount: | $2.8 million
|
| Tenor: | Three years
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| Price: | A 22.5% discount to the average of the three lowest closing bids during the seven trading days following a put notice
|
| Warrants: | No
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| Investor: | KVM Capital Partners
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| Fees: | 100,000 common shares
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| Pricing date: | Aug. 2
|
| Stock symbol: | OTCBB: WILD
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| Stock price: | $0.30 at close Aug. 1
|
| Market capitalization: | $8.06 million
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