Units each consist of two-year 24% unsecured debenture, 500 warrants
By Devika Patel
Knoxville, Tenn., Dec. 22 – Empire Global Corp. raised $150,000 in a private placement of units on Dec. 17, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 30 units at $5,000 apiece, with each unit consisting of a $5,000 24% unsecured debenture and 500 warrants. The debentures are due on Dec. 17, 2016.
The warrants are each exercisable at $1.50 until Dec. 17, 2016. The warrant strike price is a 102.7% premium to the Dec. 19 closing share price of $0.74.
Based in Toronto, Empire Global develops world-class services and venues in the global online gambling industry.
| Issuer: | Empire Global Corp.
|
| Issue: | Units of a $5,000 unsecured debenture and 500 warrants
|
| Amount: | $150,000
|
| Units: | 30
|
| Price: | $5,000
|
| Maturity: | Dec. 17, 2016
|
| Coupon: | 24%
|
| Warrants: | 500 warrants per unit
|
| Warrant expiration: | Dec. 17, 2016
|
| Warrant strike price: | $1.50
|
| Announcement date: | Dec. 22
|
| Settlement date: | Dec. 17
|
| Stock symbol: | OTCBB: EMGL
|
| Stock price: | $0.74 at close Dec. 19
|
| Market capitalization: | $17.94 million
|
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