On April 19, 2018, Giggles N’ Hugs Inc. closed a public rights offering. The Company sold 19,791,829 units at a price of $.03 per unit. Each unit consists of one share of common stock and 0.70 of a warrant. Each whole warrant will be exercisable for one share of common stock at a price of $.06. per share. In the aggregate 19,791,829 shares of common stock and 13,854,274 warrants were issued for gross proceeds, before expenses and dealer-manager fees, of $593,755.
I believe
These or this investor(s) will at least be made whole. 2-3 times their investment.
19,791,829 is not much dilution considering significant news will easily churn 20-50 mil in a few days.
First Amendment Rights do not cover deliberately making false statements.
