By Sheri Kasprzak
New York, May 4 - Electric Aquagenics Unlimited, Inc. closed a $4 million private placement of its stock with Water Science, LLC.
Water Science bought 1.6 million shares at $2.50 apiece.
The investor received warrants for 6.4 million shares, exercisable at $2.76 each for three years.
Lindon, Utah-based Electric Aquagenics manufactures water electrolysis equipment.
| Issuer: | Electric Aquagenics Unlimited, Inc.
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| Issue: | Stock
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| Amount: | $4 million
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| Shares: | 1.6 million
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| Price: | $2.50
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| Warrants: | For 6.4 million shares
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| Warrant expiration: | Three years
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| Warrant strike price: | $2.76
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| Investor: | Water Science, LLC
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| Settlement date: | May 1
|
| Stock symbol: | OTCBB: EAQU
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| Stock price: | $1.95 at close May 1
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