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Stock Market & Financial Investment News

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April 2, 2014
09:07 EDTJOBGeneral Employment enters into Securities Purchase Agreement with Aracle SPF
General Employment Enterprises entered into a Securities Purchase Agreement with Aracle SPF I, a NYC-based fund managed by Aracle Management. Under the terms of the agreement, Aracle can purchase common stock of General Employment at price of 20c per share with 50% warrant coverage at an exercise price of 25c, for a maximum 3M shares and 1.5M warrants. Concurrent with the execution of the SPA the parties conducted an initial closing at which Aracle purchased 2,375,000 shares of the company's common stock and 1,187,500 warrants for $475K.
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