BillMyParents (BMPI) announced that it has raised $2.92 million in a Common Stock transaction.
The common stock was sold at $0.40 per share, an approximate 16% discount to the market price ($0.48) of BMPI at deal announcement. A series of 6,875,000 60-Month Warrants with an exercise price of $0.50 per share (5.26% premium) were issued to certain investors in this transaction.
An additional series of 106,250 60-Month Warrants with an exercise price of $0.60 per share (26.32% premium) were issued to certain other investors in this transaction.
The Placement Agent and the investors were not disclosed. Issuer counsel was Ruskin, Moscou, Evans & Faltischek, and investor counsel was Sichenzia Ross.
The transaction closed on Nov. 30, 2012.
See the PlacementTracker Deal Summary.