10,608,000 common shares sold at $0.25 along with 15,912,000 warrants
By Devika Patel
Knoxville, Tenn., Sept. 24 – Rightscorp Inc. said it settled a $2.65 million private placement of stock.
The company sold 10,608,000 common shares at $0.25 per share. The price per share is a 26.47% discount to the Sept. 23 closing share price of $0.34.
Investors also received warrants for 15,912,000 shares.
Proceeds will be used for general working capital purposes to accelerate the company’s growth.
The Santa Monica, Calif., company provides monetization services for artists and holders of copyrighted intellectual property.
| Issuer: | Rightscorp Inc.
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| Issue: | Common shares
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| Amount: | $2,652,000
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| Shares: | 10,608,000
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| Price: | $0.77
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| Warrants: | For 15,912,000 shares
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| Settlement date: | Sept. 24
|
| Stock symbol: | OTCBB: ABHD
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| Stock price: | $0.34 at close Sept. 23
|
| Market capitalization: | $23.87 million
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