Deal negotiated with Chapman University priced at $0.0633 per share
By Devika Patel
Knoxville, Tenn., Oct. 14 - Entech Solar Inc. settled a private placement of stock on Oct. 12, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company sold 15,797,788 common shares at $0.0633 per share to Chapman University for $1 million. The price per share is a 47.25% discount to $0.12, the Oct. 11 closing share price.
The Fort Worth company designs, manufactures and installs solar energy systems that provide electricity and thermal energy in commercial and industrial applications.
| Issuer: | Entech Solar Inc.
|
| Issue: | Common stock
|
| Amount: | $1 million
|
| Shares: | 15,797,788
|
| Price: | $0.0633
|
| Warrants: | No
|
| Investor: | Chapman University
|
| Settlement date: | Oct. 12
|
| Stock symbol: | OTCBB: ENSL
|
| Stock price: | $0.11 at close Oct. 12
|
| Market capitalization: | $36.19 million
|
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