Net Element (NETE) Execute Trance-for-Shares Swap with Crede

August 9, 2016 2:10 PM EDT

Get the Pulse of the Market with's Pulse Picks. Get your Free Trial here.

Net Element (NASDAQ: NETE) disclosed the following on Tuesday:

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

On August 9, 2016, Net Element, Inc. (the “Company”) opted to exchange a tranche in the aggregate amount of $200,000 for 104,942 shares of the Company common stock based on the “exchange price” of $1.9058 per share for this tranche pursuant to the Master Exchange Agreement, (the “Agreement”) with Crede CG III, Ltd. (“Crede”). The Agreement and its terms were disclosed in our Current Report on Form 8-K filed on May 3, 2016. Such shares of common stock of the Company were issued to Crede under an exemption from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), in reliance upon Section 3(a)(9) of the Securities Act.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Corporate News

Add Your Comment