AMP Holding pockets $3.44 million through private placement of stock

Company sells common stock at $0.60 apiece through multiple tranches

By Devika Patel

Knoxville, Tenn., June 30 - AMP Holding Inc. settled three tranches of a private placement of stock, according to an 8-K filed Thursday with the Securities and Exchange Commission. The company raised $3.44 million in three tranches between May 10 and June 29.

The company sold a total of 5,732,469 common shares at $0.60 apiece. The price per share reflects a 25% discount to $0.80, the May 9 closing share price.

Investors also received warrants for a total of 2,866,233 common shares, which are exercisable at $0.80 per share for two years. The strike price is identical to the May 9 closing share price.

John Carris Investments LLC was the agent.

The Overland Park, Kan., company designs, markets and sells modified automobiles.

Issuer:	AMP Holding Inc.
Issue:	Common stock
Amount:	$3,439,481
Shares:	5,732,469
Price:	$0.60
Warrants:	For 2,866,233 shares
Warrant expiration:	Two years
Warrant strike price:	$0.80
Agent:	John Carris Investments LLC
Settlement date:	May 10 (for $282,500), May 25 (for $2,033,000), June 29 (for $1,124,000)
Stock symbol:	OTCBB: AMPD
Stock price:	$0.92 at close May 10
Market capitalization:	$20.03 million

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