Paradise Music Buys Straw Dogs For 900,000 Shares
NEW YORK -- Paradise Music & Entertainment Inc. (PDSE) shareholders voted to approve the company's acquisition of Consolidated Entertainment LLC, known as Straw Dogs, for 900,000 shares of restricted common stock.
In a press release Thursday, Paradise Music said it was also acquiring Straw Dogs' directorial affiliate, Spur & Buckle Inc., for 541,000 restricted shares.
Paradise Music's stock recently traded at 2 1/4, up 3/8, or 20%, on volume of 71,800 shares. Average daily volume is 128,641 shares. The company's shares were trading at 1/2 on Sept. 27, when the definitive agreement for the deal was reached.
Paradise Music is a multimedia entertainment company.
Straw Dogs is a Los Angeles-based film production company
Trading stock for purchase of a company. Wonder if straw dog has any prohibition against selling in a year.
Jack |
