Advanced United Holdings Inc (OTCMKTS:AUHIF) Stock On Radar After Private Placement

On Tuesday, Advanced United Holdings Inc (OTCMKTS:AUHIF) had come into the news cycle after it announced the details with regards to a non-brokered private placement. The company announced that it was going to issue as many as 5,000,000 units for the price of $0.05 each and additionally, another 6,666,666 flow through units for the price of $0.75 each.

Trading Data

On Tuesday, AUHIF stock ended flat at $0.0800 with 10.10K shares, compared to its average volume 44.40K shares. The stock moved within a range of $0.0800 – 0.0800 after opening trade at $0.0800.

Advance United Holdings Announces Private Placement

The company announced that it was going to raise aggregate gross proceeds to the tune of $750,000 from the private placement. Each unit that would be offered by the company would be made up of one common share in its capital and one common share purchase warrant. The holder of a warrant would be entitled to pick up a common share in Advanced United Holdings for the price of $0.10 for a period of up to three years from the date of issuance.

Each flow through unit would be made up of one common share issued on a flow through basis and one half of a common share purchase warrant. A whole flow through warrant would entitle the holder to buy a common share for the price of $0.10 for a period of up to three years from the date of issuance.