Jones Soda (JSDA) Enters $3.2M Direct Offering; iWill Issue 6.4M Common, 3.2M Warrants
JSDA Hot Sheet
Revenue Growth %: +10.6%
Jones Soda Co. (Nasdaq: JSDA), announced it has entered into a definitive agreement with institutional and accredited investors to sell common stock and warrants in a registered direct offering with gross proceeds of approximately $3.2 million.
In connection with the offering, the Company will issue an aggregate of 6,415,000 shares of common stock and warrants to purchase up to an additional 3,207,500 shares of common stock. The securities will be sold in units at a price of $0.50 per unit, with each unit consisting of one share of common stock and a warrant to purchase 0.5 of a share of common stock. The warrants will have an exercise price of $0.70 per share and are exercisable for a five-year period commencing six months after issuance.
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In connection with the offering, the Company will issue an aggregate of 6,415,000 shares of common stock and warrants to purchase up to an additional 3,207,500 shares of common stock. The securities will be sold in units at a price of $0.50 per unit, with each unit consisting of one share of common stock and a warrant to purchase 0.5 of a share of common stock. The warrants will have an exercise price of $0.70 per share and are exercisable for a five-year period commencing six months after issuance.
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