Drinks Americas Holdings, Ltd. (DKAM)

[IRISHBULL]

Whats your thoughts on this?

This came up on knobias PIPE alert

DKAM: Closes $8M PIPE; Common @ $1.80 per Share

02/01/2007 14:34

On January 30, 2007, Drinks Americas Holdings, Incorporated (OTCBB: DKAM) sold to five investors an aggregate of 4,444,444 shares of common stock at a price of $1.80 per share generating gross proceeds of $8,000,000, and warrants to purchase an aggregate of 3,777,778 shares of Common Stock for a purchase price of $3.00 per share. The Warrants which are exercisable for a five year period commencing on the sixth month anniversary of the Closing Date. Midtown Partners & Co., LLC were paid $640,000 in commissions and $160,000 for non-accountable expenses. The Placement Agent will be issued commissions equal to 10% of the purchase price of Common Stock acquired on the exercise of the Warrants. The Placement Agent was issued warrants to acquire 444,444 shares of Common Stock for a purchase price of $3.00 per share