On December 29th, 2005, uBid, Inc. (the former name of the Enable Holdings) merged with a subsidiary of Cape Coastal Trading Corporation (OTCBB: CCSR) and survived the merger as a wholly-owned subsidiary of Cape Coastal Trading Corporation. Cape Coastal Trading Corporation changed its name to uBid.com Holdings, Inc. (OTCBB: UBHI) on February 10, 2006 and continued uBid.com's business as its sole business operation.
On December 29th, the company completed a $45 million private placement involving the issuance of 10,000,000 shares of Cape Coastal Trading Corporation common stock to a group of institutional and accredited investors at $4.50 per share. The Company also issued to the investors warrants to purchase an additional 2,500,000 shares of Cape Coastal Trading Corporation common stock exercisable at $5.85 per share.
In August, 2008 uBid.com Holdings Inc. changed its name to Enable Holdings, Inc.
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