Deals

Avantair in Convertible Note PIPE

By |

Avantair (AAIR) announced that it has raised $2.8 million in a Convertible Senior Secured Notes transaction. The company manages fractional share aircraft operation programs.

The fixed conversion price of the Convertible Senior Secured Notes is $0.25 per share, an approximate 66.67% premium to the market price ($0.15) of AAIR at deal announcement. A series of 60-Month Warrants with an exercise price of $0.50 per share (233.33% premium) was issued to the investors in this transaction. The investment was lead by members of the Company’s Board of Directors, and it closed on Dec. 03, 2012.

Deals

Virtual Piggy Banks Cash from PIPE

By |

Virtual Piggy (VPIG) announced that it has raised $5.56 million in a Common Stock transaction. The common stock was sold at $0.70 per share, an approximate 49% discount to the market price ($1.37) of VPIG at deal announcement. The Placement Agent and the investors were not disclosed. The transaction closed on Nov. 30, 2012.

Deals

Chardan Capital Places T3 Motion Convertibles

By |

T3 Motion (TTTM) announced that it has raised $2.88 million in a Convertible Senior Secured Debentures transaction. The company makes a unique electric powered three-wheeled stand up vehicle. The fixed conversion price of the Convertible Senior Secured Debentures is $0.10 per share, an approximate 69.7% discount to the market price ($0.33) of TTTM at deal announcement. A series of 30,386,321 60-Month Warrants with an exercise price of $0.10 per share (69.7% discount) was issued to the investors in this transaction. Additionally the Company issued 3,038,632 shares of Common Stock to the Investor.

Deals

As Seen on TV Raises Cash with Common Stock PIPE

By |

Online retailer As Seen on TV (ASTV) announced that it has raised $3.05 million in a Unit (Common Stock and Warrant) transaction. The common stock was sold at $0.70 per share, an approximate 13% discount to the market price ($0.80) of ASTV at deal announcement. A series of 2,180,775 36-Month Warrants with an exercise price of $0.80 per share (0% premium) was issued to the investors in this transaction. National Securities Corp. acted as the exclusive agent on the transaction, and the investors were not disclosed. The transaction closed on Nov.