4,545,454 shares sold to Beijing Sun Seven Stars Culture Development
By Devika Patel
Knoxville, Tenn., Nov. 24 – YOU On Demand Holdings, Inc. settled a $10 million private placement of common stock with Beijing Sun Seven Stars Culture Development Ltd. on Nov. 23, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The company sold 4,545,454 shares at $2.20 apiece, which is a 5.77% premium to the Nov. 20 closing share price of $2.08.
Beijing Sun Seven Stars also received warrants for 1,818,182 shares, which are each exercisable at $2.75 for two years. The strike price is a 32.21% premium to the Nov. 20 closing share price.
The New York-based company is a national pay-per-view and video-on-demand platform in China.
Issuer: | YOU On Demand Holdings, Inc.
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Issue: | Common stock
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Amount: | $10 million
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Shares: | 4,545,454
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Price: | $2.20
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Warrants: | For 1,818,182 shares
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Warrant expiration: | Two years
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Warrant strike price: | $2.75
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Investor: | Beijing Sun Seven Stars Culture Development Ltd.
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Settlement date: | Nov. 23
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Stock symbol: | Nasdaq: YOD
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Stock price: | $2.08 at close Nov. 20
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Market capitalization: | $46.77 million
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