One of the stocks to have been in focus among investors in recent times is the Healthier Choices Management Corp (OTC: HCMC) stock. On Monday, the stock was back in the news once again after the company made a major announcement.
The company announced yesterday that it managed to raise fresh equity capital to the tune of as large as $5 million and that was the trigger behind the remarkable rally in the Healthier Choices stock. The stock soared by as high as 69% yesterday as it gained momentum once again in a big way.
As per the 8-K filed by the company with the Securities and Exchange Commission, it sold 1000 shares of its series D convertible stock at $5000 a share. The shares were sold to institutional investors. On top of that, it should be noted that the preferred can be turned into common stock for a conversion price that has been set at $.0024. That indicates a premium of as big as 150%.
Finance and Entertainment Reporter
Richard is a bottle of wine – the older the sweeter. He has already found the sweetest hobby in writing entertainment and finance news for Own Snap. Readers get the updated posts regularly from him searching for real-time news.