Deal offers 2,388,750 units of one share, a warrant at $4.00 per unit
By Devika Patel
Knoxville, Tenn., April 6 – Ecoark Holdings, Inc. completed a $9.56 million private placement of units with 137 investors on March 31, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The company sold 2,388,750 units of one common share and one warrant at $4.00 per unit on a best-efforts basis.
Each warrant is exercisable at $5.00 until Dec. 31, 2018.
The Rogers, Ark., company, formerly Magnolia Solar Corp., develops thin film solar cell technologies that employ nanostructured materials and designs.
| Issuer: | Ecoark Holdings, Inc.
|
| Issue: | Units of one common share and one warrant
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| Amount: | $9,555,000
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| Units: | 2,388,750
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| Price: | $4.00
|
| Warrants: | One warrant per unit
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| Warrant expiration: | Dec. 31, 2018
|
| Warrant strike price: | $5.00
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| Announcement date: | April 6
|
| Settlement date: | March 31
|
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