(NEW YORK)—Infusion of capital sends FC Global Realty Incorporated (NASDAQ:FCRE) stock spiking back above $1.00 a share.
On December 29, 2017, FC Global Realty Incorporated entered into a securities purchase agreement with Opportunity Fund I-SS, LLC to invest up to $15,000,000 in the Company in a series of closings, in newly designated Series B Preferred Stock at a purchase price of $1.00 per share.
On December 22, 2017, the Company and the Investor completed the first closing under the Purchase Agreement by provided $1,500,000 to the Company in exchange for 1,500,000 shares of the Company’s Series B Preferred Stock, followed by an additional $2,225,000 on January 24, 2018 for 2,225,000 shares of the Company’s Series B Preferred Stock.
The Company may not issue, upon conversion of the Series B Preferred Stock, a number of shares of Common Stock, which would exceed 19.99% of the issued and outstanding shares of Common Stock on the date of conversion.
Pursuant to the Agreement, the Investor agreed that such conversion limitation shall be equal to 2,372,536 shares, or 19.99% of the 11,868,619 outstanding shares of Common Stock as of December 22, 2017, the date of the initial closing under the Purchase Agreement.
This infusion of capital into the Company, and set limitations of how many common shares can be issued during this funding, sent FCRE stock running from around $0.75 per share to nearly $1.65 at its peak before pulling back to $1.10 as of close Wednesday.
The stock has broken above key resistance moving averages, such as their 50-day, and will this new infusion of $15 million of capital, and with only 12 million shares outstanding investors have taken notice and are building positions in the low $1.00’s as potential trading opportunity.
Register to Investor Mailing List
We will be providing on going coverage of this story so to receive updates on this and other news affecting the small cap sector please join our investor mailing list at https://wallstreetnewscast.com/investors/
This is NOT a solicitation to Buy or Sell any security, but rather is for informational purposes only. Content contained herein includes facts, views, opinions and recommendations of individuals and organizations deemed of interest. Wall Street Newscast (“WSNC”) does not guarantee the accuracy, completeness or timeliness of, or otherwise endorse these views, opinions or recommendations, or give investment advice. WSNC, its affiliates, or directors, may or may not hold a position in the above security from time to time, and investors are encourage to consider this as a possible conflict of interest when reviewing this information. In Compliance with SEC Rule 17B Wall Street Newscast was not compensated for this media alert. WSNC, or its affiliates, may hold a position in above securities from time to time, and thus should be considered a possible conflict of interest when reviewing this report and information. These investments may involve a high degree of risk, thus investors are highly encouraged to consult with a financial advisor before any and all investments.
Safe Harbor Statements:
This website includes statements that may constitute forward-looking statements made pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Although the Company believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected.
Small and Micro cap, or ‘penny stocks’, involve a high degree of risk, and we highly encourage investors to consult with a financial advisor before making any and all investment decisions when investing in these type of securities.
- Data Elf Launches Online Network for AI and Data Science Programmers - January 20, 2020
- These Small Cap IoT Stocks Offer Real Upside Potential - December 3, 2019
- Orbsat (OSAT) Potential for Global IoT Data Provider Through Satellite Network - November 20, 2019
- Alpine 4 (ALPP) Stock Pulls Back After Major Run in Share Price - November 6, 2019
- GTX Corp (GTXO) Stock Offers Upside Valuation Potential as Wearable IoT Play - October 31, 2019
- Cannabis Stocks get Upgrade at Oversold Levels - October 10, 2019
- FDA Guidance on CBD Infused Products May Signal Bottom for Stock Sector - August 17, 2019
- Vectorspace AI (VXV) and ESTC Discuss Visualizing Alpha Utilizing Datasets and Canvas - August 8, 2019
- Vectorspace (VXV) Crypto Coin Big Uses for Quant Hedge Funds - July 1, 2019
- BioHemp (BKIT) Added to Watch List as CBD Distribution Play - June 28, 2019