By Devika Patel
Knoxville, Tenn., July 23 - Lightbridge Corp. arranged a $13.66 million registered direct offering of stock, according to a prospectus supplement filed Friday with the Securities and Exchange Commission.
The company will sell 2,069,992 common shares at $0.20 apiece. Investors also will receive warrants for 1,034,996 shares, which are exercisable at $9.00 for seven years.
William Blair & Co., LLC is the agent.
Settlement is expected July 28.
Proceeds will be used for research and development of the company's nuclear fuel designs and for general working capital.
Lightbridge is a McLean, Va., nuclear energy consultant.
| Issuer: | Lightbridge Corp.
|
| Issue: | Common stock
|
| Amount: | $13,661,947
|
| Shares: | 2,069,992
|
| Price: | $6.60
|
| Warrants: | For 1,034,996 shares
|
| Warrant expiration: | Seven years
|
| Warrant strike price: | $9.00
|
| Agent: | William Blair & Co., LLC
|
| Pricing date: | July 23
|
| Settlement date: | July 28
|
| Stock symbol: | Nasdaq: LTBR
|
| Stock price: | $7.65 at close July 22
|
| Market capitalization: | $66.5 million
|
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