FRMO Corp Announces Private Placement

Monday, 15 Apr 2013 11:53pm EDT 

FRMO Corp announced that on April 15, 2013, the Company received a commitment from accredited investors pursuant to a Private Placement Memorandum (the PPM) to purchase 1,730,103 shares of the Company’s common stock at $2.89 per share. The Company is expecting to receive proceeds of approximately $5 million during the quarter ended May 31, 2013. There are no closing costs in connection with the PPM. The transaction is exempt from registration pursuant to Regulation D and Section 505 of the Securities Act of 1933. 

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