Bravo Brands Inc (fka BRVO)

[sbc357]

40.5MM shares for $20.25MM. $20.25/40.5 sh = .50/share

"today announced that the Company has entered into definitive agreements for $20.25 million in equity financing through the private placement of 40,500,000 shares of common stock to a group of institutional and accredited investors. The net proceeds to the Company after payment of transaction expenses will be approximately $18.9 million. The Company also issued to the investors warrants to purchase up to an additional 15,187,500 shares of common stock exercisable at $.80 per share. SG Cowen & Co., LLC acted as the exclusive placement agent for the transaction. The closing and funding is scheduled to occur early next week."

Isn't this correct?