By Sheri Kasprzak
New York, Oct. 26 - H2Diesel, Inc. wrapped a $2,915,000 private placement of its stock as part of its reverse merger with Wireless Holdings, Inc.
H2Diesel sold 2,915,000 shares in the deal. A total of 765,000 shares were issued upon the conversion of $765,000 in principal of demand notes.
Under the terms of the merger, H2Diesel shareholders received one share of Wireless's stock for every outstanding share of H2Diesel.
On Thursday, Wireless's stock climbed 10.24%, or 65 cents, to end at $7.00 (OTCBB: WLHO).
Based in Pompano Beach, Calif., H2Diesel manufactures bio-fuel to be used for heating fuel.
| Issuer: | H2Diesel, Inc.
|
| Issue: | Stock
|
| Amount: | $2,915,000
|
| Shares: | 2,915,000
|
| Price: | $1.00
|
| Warrants: | No
|
| Settlement date: | Oct. 20
|
| Stock symbol: | OTCBB: WLHO
|
| Stock price: | $6.35 at close Oct. 20
|
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