By Sheri Kasprzak
Atlanta, Nov. 30 - Airtrax Inc. said late Monday it has received $1.312 million in a private placement.
The company sold 1.125 million shares at $0.80 each and warrants for 562,500 shares for total proceeds of $900,000.
The warrants in that offering allow for an additional share at $1.25 each for five years.
On Nov. 23, the company sold 515,000 shares at $0.80 each for an additional $412,000, and also issued warrants for an additional 257,500 shares.
The warrants from that offering allow for an additional share at $1.25 each for five years.
First Montauk Securities Corp. was placement agent in the offering.
Airtrax, based in Hammonton, N.J., develops omni-directional technology for vehicles.
| Issuer: | Airtrax Inc.
|
| Issue: | Shares
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| Amount: | $1.312 million
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| Shares: | 1.64 million
|
| Price: | $0.80
|
| Warrants: | For 783,500 shares
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| Warrant expiration: | Five years
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| Warrant strike price: | $1.25
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| Placement agent: | First Montauk Securities Corp.
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| Announcement date: | Nov. 29
|
| Settlement dates: | Nov. 22 and Nov. 23
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| Stock price: | $1.56 at close Nov. 22
|
| Stock price: | $1.40 at close Nov. 23
|
| Stock price: | $1.37 at close Nov. 29
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