By Laura Lutz
Des Moines, Sept. 25 - Ironclad Performance Wear Corp. raised $1.1 million from the second tranche of a private placement of stock, bringing the total proceeds to $2.1 million, according to an 8-K filing with the Securities and Exchange Commission.
That is an increase from the $2 million deal size announced on Sept. 12.
Ironclad sold 2,750,000 common shares at $0.40 each in the second tranche.
Primarius Partners LP, Primarius Focus LP, Alder Capital Partners I LP, Alder Offshore Master Fund LP, Orcutt Family Trust and Stiassni Capital Partners LP were the investors in that tranche.
In the first tranche, Ironclad sold 2,500,000 shares to London Family Trust and MCF Navigator Fund, LP.
The offering was conducted through a placement agent.
Proceeds will be used for strategic initiatives and working capital.
Based in El Segundo, Calif., Ironclad produces apparel for industrial workers.
| Issuer: | Ironclad Performance Wear Corp.
|
| Issue: | Common stock
|
| Amount: | $2.1 million
|
| Shares: | 5,250,000
|
| Price: | $0.40
|
| Warrants: | No
|
| Investors: | London Family Trust and MCF Navigator Fund, LP in the first tranche; Primarius Partners LP, Primarius Focus LP, Alder Capital Partners I LP, Alder Offshore Master Fund LP, Orcutt Family Trust and Stiassni Capital Partners LP in the second tranche
|
| Pricing date: | Sept. 12
|
| Settlement date: | Sept. 12 (for $1 million); Sept. 20 to Sept. 24 (for $1.1 million)
|
| Stock symbol: | OTCBB: ICPW
|
| Stock price: | $0.47 at close Sept. 12
|
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