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Forum - Wall Street Pit (XpreSpa Group - XSPA)    Stock Due Diligence for All

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From: smokeeater11 (Rep: 57)Date: 05/16/2018 10:00
Forum: Wall Street Pit - Msg #2734258 - List XSPA msgs Thread #674009571 (Rec: 1)
.39 bagpile slammer. $23.9M loss with bonus toxic offering.


Private Placement Offering

.

"On May 15, 2018, the Company entered into a securities purchase agreement (the “Purchase Agreement”) with certain accredited investors (the “Investors”), pursuant to which the Company agreed to sell (the “Offering”) up to (i) an aggregate principal amount of $4,438,000 in 5% Secured Convertible Notes due 2019, which includes $88,000 issued to Palladium Capital Advisors as Placement Agent (the “Convertible Notes”), convertible into shares of common stock of the Company, par value $0.01 per share (“Common Stock”) at a conversion price of $0.62 per share, (ii) Class A Warrants to purchase 7,157,259 shares of Common Stock at an exercise price of $0.62 per share (the “Class A Warrants”) and (iii) Class B Warrants to purchase 3,578,630 shares of Common Stock at an exercise price of $0.62 per share (the “Class B Warrants,” and together with the Class A Warrants, the “Warrants”)."


https://www.sec.gov/Archives/edgar/data/1410428/000114420418028911/tv492938_10q.htm#a_009

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