Offering includes warrant coverage; stock was sold at $1.68 per share
By Devika Patel
Knoxville, Tenn., Sept. 15 – Evine Live Inc. completed a $10 million private placement of stock on Sept. 14, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company sold 5,952,381 common shares at $1.68 apiece, which is an 11.58% discount to the Sept. 13 closing share price of $1.90.
The investors also received warrants for 2,976,190 shares and options.
Proceeds will be used for general working capital purposes and debt repayment.
Evine Live is a cable, satellite and broadcast television network based in Eden Prairie, Minn.
| Issuer: | Evine Live Inc.
|
| Issue: | Common shares
|
| Amount: | $10 million
|
| Shares: | 5,952,381
|
| Price: | $1.68
|
| Warrants: | For 2,976,190 shares
|
| Options: | Yes
|
| Settlement date: | Sept. 14
|
| Stock symbol: | Nasdaq: EVLV
|
| Stock price: | $1.90 at close Sept. 13
|
| Market capitalization: | $120.98 million
|
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