30 May 2015
Your browser is unable to support Flash files.

BillMyParents raises $4.86 million in equity financing

22 January 2013  |  795 views  |  0 Source: BillMyParents

BillMyParents, Inc. ( OTCQB : BMPI ), the Responsible Teen Spending company, today announced that it recently raised net proceeds of $4,866,191 after deducting fees and expenses totaling $621,799.

The Company issued 13,719,975 shares of it common stock priced at $0.40 per share to a group of private investors. Pursuant to the terms of the offering, BillMyParents issued five year warrants to purchase up to an additional 8,125,000 shares of its common stock in the aggregate, at an exercise price of $0.50 per share, and five year warrants to purchase up to 1,398,744 shares of its common stock in the aggregate, at an exercise price of $0.60 per share.

BillMyParents Chairman and CEO Mike McCoy stated, "We believe that completing this equity financing transaction at an approximately at-the-market price for equity and above-the-market price for warrants shows that investors are confident in our ability to execute on a significant market opportunity in the teen payment solutions space. We intend to use the proceeds to fund further development and growth of our Company."

For more information, please visit: www.BillMyParents.com

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Related blogs

Create a blog about this story (membership required)

Top topics

Most viewed Most shared
Google unveils Android Pay
5828 views comments | 24 tweets | 27 linkedin
CBA to test Ripple for intra-bank transfer...
5437 views comments | 25 tweets | 21 linkedin
Anti-Money Laundering From False Positives...
5272 views 0 | 1 tweets | 1 linkedin
eBay and Village Capital run accelerator f...
5172 views comments | 10 tweets | 4 linkedin
Visa Europe opens innovation hub in Israel
5096 views comments | 19 tweets | 9 linkedin

Featured job

to £100K base, 200K ote, stock options, benefits
London, UK

Find your next job