By Laura Lutz
Des Moines, Dec. 10 - Caprius, Inc. completed a $4.7 million private placement of a new series of preferred stock, according to an 8-K filing with the Securities and Exchange Commission.
Ten investors, including Special Situations Fund, Great Point Partners and Dolphin Asset Management, participated in the placement.
The investors bought 78,334 shares of series F convertible preferred stock at $60.00 each.
The preferreds are initially convertible into 7,833,400 common shares and warrants for 3,133,360 shares. The warrants will be exercisable at $0.80 per share for five years.
Equity Source Partners, LLC is the agent.
Proceeds will be used for working capital and general corporate purposes.
Based in Hackensack, N.J., Caprius manufactures equipment to disinfect medical waste. The company operates through its subsidiary, M.C.M Environmental Technologies, Inc.
| Issuer: | Caprius, Inc.
|
| Issue: | Preferred stock
|
| Amount: | $4.7 million
|
| Shares: | 78,334
|
| Price: | $60.00
|
| Conversion ratio: | Into 7,833,400 shares
|
| Warrants: | For 3,133,360 shares upon conversion
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.80
|
| Agent: | Equity Source Partners, LLC
|
| Investors: | Special Situations Fund, Great Point Partners, Dolphin Asset Management, seven others
|
| Settlement date: | Dec. 7
|
| Stock symbol: | OTCBB: CAPS
|
| Stock price: | $0.60 at close Dec. 7
|
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