Company is selling 761,500 common shares at $1.00 per share in deal
By Devika Patel
Knoxville, Tenn., Sept. 5 - SurePure, Inc. raised $541,000 in the first tranche of a $761,500 private placement of stock on Sept. 4, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company is selling 761,500 common shares at $1.00 apiece, a 6.38% premium to the Sept. 3 closing share price of $0.94. It sold 541,000 shares in the first tranche and will sell 220,500 shares by Sept. 13.
Regency Capital Ltd. invested $441,000, and MinAurum Ltd. invested $100,000. Regency will purchase another $220,500 in shares by Sept. 13.
Proceeds will be used for working capital purposes.
Based in New York, the company uses UV-C light to purify microbiologically sensitive liquids such as wine, fruit juice and milk and to improve processing liquids such as water, brines and sugar syrup solutions.
| Issuer: | SurePure, Inc.
|
| Issue: | Common shares
|
| Amount: | $761,500
|
| Shares: | 761,500
|
| Price: | $1.00
|
| Warrants: | No
|
| Investor: | Regency Capital Ltd. (for $441,000), MinAurum Ltd. (for $100,000)
|
| Settlement date: | Sept. 4 ($541,000), Sept. 13 (for $220,500)
|
| Stock symbol: | OTCBB: SURP
|
| Stock price: | $0.94 at close Sept. 3
|
| Market capitalization: | $34.49 million
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