Merriman Holdings, Inc. announced that it expects to receive $1 million in funding.
April 02, 2014 at 12:00 am
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Merriman Holdings, Inc. (OTCPK:MERR) entered into stock purchase agreement for private placement of 16,666,666.67 common shares at $0.06 per share for gross proceeds of $1,000,000 on April 2, 2014. The transaction will include participation from existing stockholders or employees of the company. The company will not pay commissions or fees to in the transaction.
On the same date, the company announced that it has closed the first tranche of the transaction. The company has issued 7,833,333 common shares for gross proceeds $469,999.98. The investors issued a warrant to purchase 0.25 shares of common shares at a price of $0.08 per share, for a term of five years. A total of 1,958,332 warrants were issued in the first tranche.
On April 8, 2014, the company announced that it has closed the second tranche of the transaction. The company has issued 416,667 shares for gross proceeds of $25,000.02. The company issued total of 104,166 warrants in the tranche.
On April 10, 2014, the company announced that it has closed the third tranche of the transaction. The company has issued 416,667 shares for gross proceeds of $25,000.02. The company issued total of 104,166 warrants in the tranche.
On April 16, 2014, the company announced that it has closed the fourth tranche of the transaction. The company has issued 416,667 shares for gross proceeds of $25,000.02. The company issued total of 104,166 warrants in the tranche.
Merriman Holdings, Inc. is a financial services holding company. The Company, through its wholly owned operating subsidiary Merriman Capital, Inc. (MC), provides capital markets advisory and research, corporate and investment banking services. The Company has three operating segments: MC, Financial Entrepreneurial Platform (FEP) and Capital Market Advisory Services (CMAG). The Company's MC segment includes a range of services, such as capital raising and financial advisory services for corporate clients, and brokerage and equity research services for its institutional investor clients. The Company's FEP segment includes capital raising services through a network of independent investment bankers. The Company's CMAG segment includes capital market advisory services, such as assisting corporate issuers in listing on OTCQX, the OTC Market tier, along with other services that facilitate the access to institutional capital markets.