Purchase price discounted 5% in agreement with Dutchess Opportunity
By Devika Patel
Knoxville, Tenn., July 21 – Energie Holdings Inc. arranged a $5 million three-year investment agreement with Dutchess Opportunity Fund, II, LP on July 16, according to an 8-K filed Monday with the Securities and Exchange Commission.
Dutchess will buy shares over three years in tranches of up to the greater of $100,000 or 200% of the average daily volume of the stock for the three trading days preceding the put notice.
The purchase price will be 95% of the lowest daily volume-weighted average price of the stock during the five trading days beginning on the delivery date of the put notice.
The Wheat Ridge, Colo., company is focused on acquiring companies that provide specialized light-emitting diodes lighting solutions to the architecture and interior design markets.
| Issuer: | Energie Holdings Inc.
|
| Issue: | Investment agreement
|
| Amount: | $5 million
|
| Tenor: | Three years
|
| Price: | 5% discount
|
| Warrants: | No
|
| Investor: | Dutchess Opportunity Fund, II, LP
|
| Pricing date: | July 16
|
| Stock symbol: | OTCBB: ELED
|
| Stock price: | $0.03 at close July 15
|
| Market capitalization: | $505,960
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
