Stock News in Focus: Cool Holdings (NASDAQ:AWSM) Reports private placement

Cool Holdings (NASDAQ:AWSM) stock identified change of 112.17% away from 52-week low price and recently located move of -89.21% off 52-week high price. It has market worth of $22.3M . AWSM stock has been recorded -16.27% away from 50 day moving average and -34.39% away from 200 day moving average. Moving closer, we can see that shares have been trading -1.03% off 20-day moving average.

Cool Holdings (NASDAQ:AWSM) revealed that it has closed a private placement of 12% unsecured convertible notes (the “Notes”) and warrants wherein it raised aggregate gross proceeds of $3.5 million.  The Notes mature 12 months after issuance, with principal and interest convertible into shares of the Company’s common stock (the “Conversion Shares”) beginning six months after the date of issuance at $2.78 per share.  Investors in the Notes also received a warrant to purchase one-half of one share of common stock for each Conversion Share issuable under the notes at an exercise price of $2.72 per share (each full warrant, a “Warrant”). The Warrants are exercisable into a maximum of 629,500 Conversion Shares beginning six months after issuance and expire 36 months from the date of issuance.

The Notes were issued in the United States pursuant to an exemption from registration under Rule 506(b) of Regulation D under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”). The Notes were also issued offshore pursuant to Rule 903 of Regulation S under the U.S. Securities Act.

Commenting on the fundraising, Mauricio Diaz, Chief Executive Officer of Cool Holdings stated: “We intend to use the proceeds from this offering for current working capital needs and to fund the acquisition of Simply Mac that we announced on May 9, 2019.  Simply Mac, based in Salt Lake City, Utah, is the largest Apple Premier Partner in the United States, and operates 43 stores in 18 states. Upon closing, we will have 59 stores with 46 in the U.S., 6 in Argentina and 7 in the Dominican Republic, and a clear focus on North America, including potential opportunities in Canada.”

The Technology sector company, Cool Holdings noticed change of 0.83% to $2.44 along volume of 314122 shares in recent session compared to an average volume of 650.85K. The stock observed return of -3.17% in 5 days trading activity. The stock was at -13.48% over one month performance. AWSM’s shares are at -14.08% for the quarter and driving a -26.95% return over the course of the past year and is now at 25.77% since this point in 2018.

The average volatility for the week at 11.04% and for month was at 11.56%. There are 9.14M shares outstanding and 6.35M shares are floated in market. Right now the stock beta is 1.58.

Gary Simmons

Gary Simmons is a self-taught investor and follows the value investing approach to picking stocks. He possesses over 10 years of investment experience, an M.B.A. from Louisiana State University, and is also certified in Risk Management Assurance. Gary is a Certified Internal Auditor, Data Miner, and author with a career broadly spanning over multiple business areas. He has exploited those observations and developed investment tactics within a fundamentally sound long-term investment strategy. He currently covers Business News category for our site. Address: 3274 Dennison Street, Modesto, California Email: Gary@newscontrol.info

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