RLJ Entertainment Announces $31 Million Private Placement of Convertible Preferred Stock
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RLJ Entertainment (RLJE) Enters $31M Conv. Preferred Private Placement
May 15, 2015 6:09 AM EDTRLJ Entertainment (NASDAQ: RLJE) announced that it has entered into a definitive Securities Purchase Agreement pursuant to which the Company will issue and sell in a private placement to accredited investors (i) convertible preferred stock in an aggregate principal amount of $31 million (the "Preferred Stock"), and (ii) warrants for the purchase of 9.3 million shares of the Company's common stock (the "Warrants").
At the closing of the transaction, the Company will issue $15 million of Preferred Stock in exchange for the cancellation of its $15 million of outstanding Bridge Preferred Stock previously issued to an... More
