Offer sells 15 million units of a share, one warrant at $0.25 per unit
By Devika Patel
Knoxville, Tenn., May 27 – Yosen Group Inc. arranged a $3.75 million private placement of units on May 26, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The company will sell 15 million units of one common share and one warrant at $0.25 per unit.
Each warrant is exercisable at $0.25 for three years. The strike price is a 4.17% premium to $0.24, the May 22 closing share price.
Proceeds will be used as working capital.
The Hangzhou, China, company generates its revenue from resale of electronic items.
Issuer: | Yosen Group Inc.
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Issue: | Units of one common share and one warrant
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Amount: | $3.75 million
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Units: | 15 million
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Price: | $0.25
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Warrants: | One warrant per unit
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Warrant expiration: | Three years
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Warrant strike price: | $0.25
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Pricing date: | May 26
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Stock symbol: | OTCBB: YOSN
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Stock price: | $0.24 at close May 22
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Market capitalization: | $6.07 million
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