24 February 2018
Visit www.avoka.com

BillMyParents raises $4.86 million in equity financing

22 January 2013  |  993 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)

Related blogs

Create a blog about this story (membership required)
Register for the webinarvisit www.nextgenbanking.co.ukVisit www.vasco.com

Top topics

Most viewed Most shared
Ripple makes new connections to emerging marketsRipple makes new connections to emerging m...
11617 views comments | 16 tweets | 10 linkedin
hands typing furiouslySome Interesting Applications Of The Inter...
10276 views 3 | 9 tweets | 1 linkedin
Basel Committee outlines disruptive fintech scenariosBasel Committee outlines disruptive fintec...
8399 views comments | 15 tweets | 26 linkedin
Investment Association sets up fintech accelerator for asset managersInvestment Association sets up fintech acc...
7950 views comments | 19 tweets | 10 linkedin
R3 creates Legal Centre of Excellence for blockchain technolgyR3 creates Legal Centre of Excellence for...
7666 views comments | 10 tweets | 14 linkedin

Featured job

Competitive base + commission
London, UK

Find your next job