By Sheri Kasprzak
Atlanta, Jan. 3 - Medis Technologies Ltd. said it raised $3.08 million in a private placement of shares.
The company sold 220,000 shares at $14 each on Dec. 31 to one accredited investor.
The company also announced Monday that on Dec. 27 its chairman and chief executive officer, its president and a corporation owned by them exercised warrants to acquire 312,397 shares at $5 each and a total of 50,000 shares at $5.75 each for a total of $1.85 million.
Based in New York, Medis develops fuel cell technologies.
| Issuer: | Medis Technologies Ltd.
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| Issue: | Stock
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| Amount: | $3.08 million
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| Shares: | 220,000
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| Price: | $14.00
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| Warrants: | No
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| Settlement date: | Dec. 31
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| Stock price: | $18.35 at close Dec. 31
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