Horiyoshi Worldwide (OTC:HHWW) announced on Monday that it has successfully completed a $5,000,000 equity financing with Milan based investment group, Zyndy Trade Corp. Shares of Horiyoshi Worldwide are up more than 3 percent in early trading today on moderate volume. As I write, the stock is up 5 cents at $1.58 per share on volume of 400,000 shares. Horiyoshi Worldwide has a market cap of $95 million and a 52-week range between $1.03 and $3.25 per share.The Company closed the initial $2,000,000 on December 2, 2010 and on Monday received the final balance of $3,000,000 to close the financing. The net proceeds of $5,000,000 is now in the corporate treasury and will be used to expand the Company's primary business, Horiyoshi the Third.
Under the terms of the agreement, the closing of this final drawdown consisted of the issuance of 1,580,137 restricted shares of common stock at the issuance price of $1.89857, pursuant to the pricing provisions of the agreement.
Horiyoshi Worldwide designs, manufactures, and markets Horiyoshi the Third (HIII) - a high end clothing and accessories product line based on the artistry of Japanese Tattoo Artist, Yoshihito Nakano (Horiyoshi III). The Company is rapidly expanding its distribution platform with the line currently being sold in approximately 45 luxury retail boutiques located in 25 cities worldwide. Debuting in Fall 2009 - HIII has been featured in leading fashion publications such as the New York Times, International Herald Tribune, the Los Angeles Times, Anotherman Magazine, Vogue and Style.com.
For more information on Horiyoshi the Third, visit: www.horiyoshi-thethird.com
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