By Susanna Moon
Chicago, May 22 - Altair Nanotechnologies, Inc. said it secured agreements from some institutional investors to raise proceeds of about $14 million in a registered direct offering.
Altair will sell 11,994,469 common shares at $1.17 per share.
Investors will also receive warrants to purchase 0.55 of a common share, exercisable at $1.00 for seven years. The common shares and warrants will be issued separately and will be immediately separable.
The offering is expected to close on May 28.
Lazard Capital Markets LLC is the placement agent.
Altair, based in Reno, Nev., is a ceramic nano-materials supplier.
| Issuer: | Altair Nanotechnologies, Inc.
|
| Issue: | Shares
|
| Amount: | $14 million
|
| Shares: | 11,994,469
|
| Price: | $1.17
|
| Warrants: | For 0.55 share
|
| Warrant strike price: | $1.00
|
| Warrant expiration: | Seven years
|
| Agent: | Lazard Capital Markets LLC
|
| Pricing date: | May 22
|
| Stock symbol: | Nasdaq: ALTI
|
| Stock price: | $1.35 at close May 21
|
| Market capitalization: | $97.81 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
