Company sells units of shares with one-year warrants at $0.45 per unit
By Devika Patel
Knoxville, Tenn., June 20 - American Graphite Technologies Inc. completed a $95,000 private placement of units on May 9 and May 20, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company sold 188,888 units of one common share and one warrant at $0.45 per unit.
Each one-year warrant is exercisable at $0.75. The strike price is a 15.39% premium to the May 8 closing share price of $0.65.
Las Vegas-based American Graphite is a development-stage company.
Issuer: | American Graphite Technologies Inc.
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Issue: | Units of one common share and one warrant
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Amount: | $95,000
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Units: | 188,888
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Price: | $0.45
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Warrants: | One warrant per unit
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Warrant expiration: | One year
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Warrant strike price: | $0.75
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Settlement date: | May 9 and May 20
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Stock symbol: | OTCBB: AGIN
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Stock price: | $0.65 at close May 8
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Market capitalization: | $44.98 million
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