Growth Capitalist (https://growthcapitalist.com/author/moriarty/page/139/)
M Line Holdings, Inc. (MLHC) announced that it has raised $30,000,000 in a Non-Convertible Debentures transaction. This Placement is part of a $60 million financing. The other $30 million will fund in the form of a public offering of Common Stock. via PlacementTracker.
Four Oaks Fincorp, Inc. (FOFN) announced that it has raised $10,000,000 in a Common Stock transaction. The common stock was sold at $1.00 per share, an approximate 44% discount to the market price ($1.80) of FOFN at deal announcement. Sandler O'Neill & Partners acted as Financial Advisor on the transaction. Issuer counsel was Smith, Anderson, Blount, Dorsett, Mitchell & Jernigan and investor counsel was Luse Gorman Pomerenk & Schick. Note that this Placement will fund in two tranches.
Four Oaks Fincorp, Inc. (FOFN) announced a Rights Offering transaction of up to $26,600,000. The Total Rights Offered is 26,600,000 at $1.00 per share, an approximate 44% discount to the market price ($1.80) of FOFN at deal announcement. The Rights Record Date and Rights Ex-Date has yet to be disclosed. The Rights Offering Ratio is 3.0. Sandler O'Neill & Partners acted as Financial Advisor on the transaction.
Digital Ally, Inc. (DGLY) announced that it has raised $2,000,000 in a Self Amortizing Convertible Senior Secured Notes transaction. The fixed conversion price of the Convertible Senior Secured Notes is $8.55 per share, an approximate 6.34% premium to the market price ($8.04) of DGLY at deal announcement. A series of 100,000 60-Month Warrants with an exercise price of $10.00 per share (24.4% premium) was issued to the investors in this transaction. WestPark Capital, Inc. acted as the exclusive agent on the transaction. The investor was Hudson Bay Master Fund Limited.
