By Devika Patel
Knoxville, Tenn., Aug. 14 - Manas Petroleum Corp. has arranged a private placement of up to $3,687,992 of units, according to an 8-K filed with the Securities and Exchange Commission.
The company sold 825,227 units at $4.50 per unit. Each unit consists of one share and one warrant, which is exercisable at $5.50 for two years.
Proceeds will be used for working capital.
Manas paid $155,759 and 33,289 warrants in commissions.
Manas is a Baar, Switzerland-based oil exploration and development company.
| Issuer: | Manas Petroleum Corp.
|
| Issue: | Units of one share and one warrant
|
| Amount: | $3,687,992
|
| Units: | 825,227
|
| Price: | $4.50
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | July 31, 2009
|
| Warrant strike price: | $5.50
|
| Pricing date: | July 31
|
| Stock symbol: | OTCBB: MNAP
|
| Stock price: | $5.10 at close July 31
|
| Stock price: | $4.55 at close Aug. 13
|
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