Company sells 704,225 shares at $2.13 apiece to investor Rare Earth
By Devika Patel
Knoxville, Tenn., Dec. 3 – InnSuites Hospitality Trust completed a $1.5 million private placement of stock with Rare Earth Financial, LLC on Nov. 30, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company sold 704,225 shares at $2.13 per share. The price per share is identical to the Nov. 27 closing share price.
The real estate investment trust is based in Phoenix.
| Issuer: | InnSuites Hospitality Trust
|
| Issue: | Stock
|
| Amount: | $1.5 million
|
| Shares: | 704,225
|
| Price: | $2.13
|
| Warrants: | No
|
| Investor: | Rare Earth Financial, LLC
|
| Pricing date: | Nov. 30
|
| Stock symbol: | NYSE: IHT
|
| Stock price: | $2.13 at close Nov. 27
|
| Market capitalization: | $18.42 million
|
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