By Laura Lutz
Des Moines, Oct. 15 - Amnutria Dairy Inc., formerly known as Micro-Tech Identification Systems, Inc., settled a private placement of stock for $1 million and arranged a private placement of units for up to $8 million. The second placement will raise at least $3 million.
The initial $1 million placement consisted of 1,333,333 common shares, three-year warrants for 266,667 shares and two-year warrants for 1,333,333 shares.
The three-year warrants have an exercise price of $0.94, and the two-year warrants have an exercise price of $1.50.
John Winfield was the investor in the stock placement.
The placement of units will close in one or more tranches with final settlement expected by Oct. 31. A first tranche closed on Oct. 9.
Each unit consists of one common share, a class A warrant for a number of shares equal to 20% of the number of units purchased and a class B warrant for a number of shares equal to 100% of the number of units purchased.
The units will be priced at $1.63 each. The class A warrants will be exercisable at $2.04 for three years, and the class B warrants will be exercisable at $3.26 for five years.
The first tranche consisted of 2,157,853 units.
Legend Merchant Group, Inc. and WestPark Capital, Inc. acted as agents for the unit offering.
The company, which was then called Micro-Tech, completed a merger with AIDH Acquisition Inc., Tryant LLC and American International Holding Co. on Oct. 9. Following the merger, the company changed its name to Amnutria. Its stock is now listed on the Over-the-Counter Bulletin Board under the symbol "AUDY."
The proceeds of the placements will be used to repurchase outstanding stock, for expenses incurred in connection with the merger and for working capital.
The company had not significant operations before the merger. After the merger, the company is a San Marino, Calif.-based producer of milk powder, soybean milk powder and rice cereal.
Stock placement
| Issuer: | Amnutria Dairy Inc., then known as Micro-Tech Identification Systems, Inc.
|
| Issue: | Stock
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| Amount: | $1 million
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| Shares: | 1,333,333
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| Price: | $0.75
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| Warrants: | For 1,600,000 shares
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| Warrant expiration: | Three years for 266,667 shares; two years for 1,333,333 shares
|
| Warrant strike price: | $0.94 for three-year warrants; $1.50 for two-year warrants
|
| Investor: | John Winfield
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| Settlement date: | Oct. 9
|
| Stock symbol: | OTCBB: AUDY
|
|
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| Units placement
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| Issuer: | Amnutria Dairy Inc., then known as Micro-Tech Identification Systems, Inc.
|
| Issue: | Units of one share, one class A warrant for a number of shares equal to 20% of units purchased and one class B warrant for a number of shares equal to 100% of units purchased
|
| Amount: | $8 million (maximum); $3 million (minimum)
|
| Price: | $1.63
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| Warrants: | For each unit, one class A warrant for a number of shares equal to 20% of units purchased and one class B warrant for a number of shares equal to 100% of units purchased
|
| Warrant expiration: | Three years for class A; five years for class B
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| Warrant strike price: | $2.04 for class A; $3.26 for class B
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| Agents: | Legend Merchant Group, Inc. and WestPark Capital, Inc.
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| Settlement date: | Oct. 9 (for 2,157,853 units)
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| Stock symbol: | OTCBB: AUDY
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