Shareholders received one right to buy a share for every share held
By Devika Patel
Knoxville, Tenn., Sept. 6 – IEG Holdings Corp. completed its $1.36 million rights offering, according to an 8-K filed Tuesday with the Securities and Exchange Commission. Source Capital Group, Inc. was the dealer manager for the deal, which priced for $95.32 million on Aug. 1.
The company sold rights for 1,357,515 common shares at $1.00 apiece, which is a 40.12% discount to the closing share price of $1.67 on July 29.
Investors received one right to buy a share for every common share held as of Aug. 15, the record date.
The offer expired on Aug. 29.
Proceeds will be used to fund new loan originations and for general corporate purposes.
The consumer finance company is based in Las Vegas.
| Issuer: | IEG Holdings Corp.
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| Issue: | Common stock
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| Amount: | $1,357,515
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| Shares: | 1,357,515
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| Price: | $1.00
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| Warrants: | No
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| Dealer-manager: | Source Capital Group, Inc.
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| Pricing date: | Aug. 1
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| Record date: | Aug. 15
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| Expiration date: | Aug. 29
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| Stock symbol: | OTCBB: IEGH
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| Stock price: | $1.67 at close July 29
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| Market capitalization: | $148.94 million
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