Published on 5/8/2008 in the Prospect News PIPE Daily.
New Issue: Microfield sells $3.6 million of shares, warrants in private placement
By Devika Patel
Knoxville, Tenn., May 8 - Microfield Group, Inc. said it has taken in $3.6 million from a private placement of stock and warrants.
The company sold about 9 million common shares at $0.40 per share.
The investors also received 4.5 million warrants, exercisable at $0.60.
Based in Portland, Ore., Microfield supplies technologies and services to electricity providers and consumers.
| Issuer: | Microfield Group, Inc.
|
| Issue: | Common stock, warrants
|
| Amount: | $3.6 million
|
| Shares: | 9 million (approximate)
|
| Price: | $0.40
|
| Warrants: | 4.5 million
|
| Warrant strike price: | $0.60
|
| Settlement date: | May 8
|
| Stock symbol: | OTCBB: MICG
|
| Stock price: | $0.44 at close May 7
|
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