Company sells 3,756,757 of its shares at $1.48 per share in offering
By Devika Patel
Knoxville, Tenn., Jan. 23 - Applied Minerals, Inc. completed a $5.56 million private placement of stock on Jan. 18, according to an 8-K filed Wednesday with the Securities and Exchange Commission. Overbrook Management Corp. was among the investors.
The company sold 3,756,757 common shares at $1.48 per share, which is a 3.3% discount to the Jan. 17 closing share price of $1.53.
New York-based Applied Minerals is an exploration company focusing on halloysite, kaolinite, alunite and other minerals.
| Issuer: | Applied Minerals, Inc.
|
| Issue: | Common stock
|
| Amount: | $5.56 million
|
| Shares: | 3,756,757
|
| Price: | $1.48
|
| Warrants: | No
|
| Investor: | Overbrook Management Corp.
|
| Settlement date: | Jan. 18
|
| Stock symbol: | OTCBB: AMNL
|
| Stock price: | $1.53 at close Jan. 17
|
| Market capitalization: | $7.09 million
|
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