370,440,680 common shares sold at about $0.0135 per share via offering
By Devika Patel
Knoxville, Tenn., April 8 – Regional Brands Inc. completed a $5 million private placement of stock with Merlin Partners LP, Ancora Catalyst Fund LP and Steven N. Bronson on April 8, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold 370,440,680 common shares at about $0.0135 apiece. The price per share is a 66.25% discount to $0.04, the April 7 closing share price.
The shell company, formerly 4net Software, Inc., is based in Westlake Village, Calif.
| Issuer: | Regional Brands Inc.
|
| Issue: | Common stock
|
| Amount: | $5 million
|
| Shares: | 370,440,680
|
| Price: | $0.0135 (approximate)
|
| Warrants: | No
|
| Investors: | Merlin Partners LP, Ancora Catalyst Fund LP and Steven N. Bronson
|
| Settlement date: | April 8
|
| Stock symbol: | OTCBB: FNSI
|
| Stock price: | $0.04 at close April 7
|
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