Deal includes warrants for 4.1 million shares, exercisable at $0.10
By Devika Patel
Knoxville, Tenn., Sept. 24 – Event Cardio Group Inc. completed a $205,000 private placement of stock, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company sold 4.1 million common shares at $0.05 per share. The price per share is a 66.67% discount to the Sept. 23 closing share price of $0.15.
The investors also received warrants for 4.1 million shares, which are each exercisable at $0.10 for four years. The strike price is a 33.33% discount to the Sept. 23 price.
Investors included MedPac Asia Pacific Pty. Ltd.
The Mississauga, Ont., company offers ambulatory medical devices for physicians and medical institutions.
| Issuer: | Event Cardio Group Inc.
|
| Issue: | Common stock
|
| Amount: | $205,000
|
| Shares: | 4.1 million
|
| Price: | $0.05
|
| Warrants: | For 4.1 million shares
|
| Warrant expiration: | Four years
|
| Warrant strike price: | $0.10
|
| Investor: | MedPac Asia Pacific Pty. Ltd.
|
| Pricing date: | Sept. 24
|
| Stock symbol: | OTCBB: ECGI
|
| Stock price: | $0.15 at close Sept. 23
|
| Market capitalization: | $15.46 million
|
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