1347 Capital Corp. Completes $2.1M Private Placement

Simultaneously with the IPO, 1347 Capital Corp. completed a private placement of 180,000 private units and 600,000 sponsor warrants to its sponsor, 1347 Investors LLC, generating total proceeds of $2,100,000.

“Simultaneously with the consummation of the IPO, the Company consummated the private placement (“Private Placement”) to the Sponsor of 180,000 units (the “Private Units”) at a price of $10.00 per Private Unit and 600,000 warrants (the “$15 Exercise Price Sponsor Warrants”), each exercisable for one share of Common Stock at an exercise price of $15.00 per share, at a price of $0.50 per $15 Exercise Price Sponsor Warrant, generating total proceeds of $2,100,000.”

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