Petrone Worldwide, Inc. announced that it expects to receive $5.39 million in funding from Peak One Investments, LLC
October 24, 2016
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Petrone Worldwide, Inc. (OTCPK:PFWI) announced that it entered into an equity line security purchase agreement with new accredited investor Peak One Opportunity Fund, L.P., a fund managed by Peak One Investments, LLC for private placement of common stock for gross proceeds of $5,000,000 on October 24, 2016. The company will issue the shares to the investor over a 24 months period. The investor will draw down the amount over the period through put notices and each notice must have an aggregate of at least $15,000. The company will also issue 650,000 commitment shares to the investor as part of the transaction. The company will issue the securities pursuant to exemption provided under Regulation D.
Petrone Worldwide, Inc. (Petrone Worldwide) is an importer and distributor of commercial grade tableware products, decorative hotel guest room amenities, lavatory and bathroom fixtures and furniture, food and beverage service items, and trendy accessories for the Asian and the European marketplaces. The Company's brands include Front of the House and Room 360. Petrone Worldwide sells and markets products under its own name and acts as a distributor primarily to companies to the hospitality trade. The Company's product lines consist of hotel groups, such as Marriott Hotel Brands, The Four Seasons Hotel & Resorts, Hilton Worldwide, Hyatt Hotels & Resorts, Starwood Hotel & Resorts, and Fairmont Hotel & Resorts, and smaller hotel chains and upscale restaurants. The Company sells product lines, such as front of the house collection and room360 degree back of the house collection.
PETRONE WORLDWIDE, INC. 
