EVINE Live Inc. (EVLV) Files An 8-K Unregistered Sales of Equity SecuritiesItem 3.02.
On September 14, 2016, EVINE Live Inc. (the “Company”) entered into Securities Purchase Agreements (the “Purchase Agreements”) with certain accredited investors to which it agreed to sell (i) shares of the Company’s common stock, (ii) warrants to purchase shares of the Company’s common stock, and (iii) certain options to purchase additional shares of, and warrants to purchase shares of, the Company’s common stock. We previously disclosed the details of this transaction (the “Transaction”) by current report on Form 8-K filed September 15, 2016.
On November 10, 2016, two of our investors exercised their options. This exercise resulted in our issuance, in the aggregate, of (a) 667,746 shares of our common stock, par value $0.01 per share; and (b) warrants to purchase an additional 333,873 of our common stock, par value $0.01 per share (the “Option Warrants”). The exercise price of the options was $1.94 per share, resulting in aggregate proceeds of $1,295,427.25. The Option Warrants bear an exercise price of $3.00 per share, and are exercisable for a five-year period expiring on November 10, 2021.
Please refer to Form 8-K filed September 15, 2016, for additional details on the options and Option Warrants, including additional terms related to exercise. As discussed in that report, we have concluded that the sale of our securities under the Purchase Agreements, and the issuance of securities upon exercise of the options, was exempt from registration under Securities Act of 1933, as amended, to Rule 506 of Regulation D, promulgated thereunder.
About EVINE Live Inc. (EVLV)
