04 October 2015

BillMyParents raises $4.86 million in equity financing

22 January 2013  |  815 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)
Your browser is unable to support Flash files.

Top topics

Most viewed Most shared
More global banks back blockchain collabor...
9875 views comments | 57 tweets | 49 linkedin
Iran joins fintech revolution
7447 views comments | 19 tweets | 5 linkedin
Banks face choice to collaborate or compet...
7256 views comments | 39 tweets | 45 linkedin
Samsung Pay lands in the US
5809 views comments | 25 tweets | 24 linkedin
Worldpay trials facial recognition technol...
5431 views comments | 21 tweets | 38 linkedin

Featured job

up to £95K base, £190K OTE, benefits
London, UK

Find your next job