Smartmetric concludes $79,980 of $661,953 private placement of units

Deal sells 55.17 units of 75,000 shares and warrants for 75,000 shares

By Devika Patel

Knoxville, Tenn., June 5 - Smartmetric, Inc. completed a $79,980 tranche of a $661,953 private placement of units on May 28, according to an 8-K filed Wednesday with the Securities and Exchange Commission. The deal raised $581,973 on May 17.

The company sold 48.5 units of 75,000 common shares and warrants for 75,000 shares at about $12,000 per unit in the first tranche and 6.67 units in the second tranche.

Each warrant is exercisable at $0.50 until April 22, 2015. The strike price is a 16.28% premium to the May 16 closing share price of $0.43.

The Bay Harbor Islands, Fla., company makes biometric cards.

Issuer:	Smartmetric, Inc.
Issue:	Units of 75,000 common shares and warrants for 75,000 shares
Amount:	$661,953
Units:	55.17
Price:	$12,000 (approximate)
Warrants:	Warrants for 75,000 shares per unit
Warrant expiration:	April 22, 2015
Warrant strike price:	$0.50
Settlement date:	May 17 (for $581,973), May 28 (for $79,980)
Stock symbol:	OTCBB: SMME
Stock price:	$0.43 at close May 16
Market capitalization:	$54.26 million

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.