By Laura Lutz
Des Moines, Oct. 23 - O2Diesel Corp. arranged a $1.25 million private placement of stock and warrants, according to an 8-K filing with the Securities and Exchange Commission.
Energenics Holdings Pte. Ltd. agreed to buy 2,551,020 common shares of O2Diesel for $0.49 each.
The investor will also receive a warrant for 1,275,510 shares with a strike price of $0.50. The warrant will become exercisable six months after issuance and will expire on Oct. 17, 2012.
Settlement is expected on Oct. 27.
The placement is part of a joint venture between Energenics and Newark, Del.-based O2Diesel Corp. to develop the Asian market for O2Diesel, an ethanol-diesel fuel blend.
| Issuer: | O2Diesel Corp.
|
| Issue: | Stock
|
| Amount: | $1.25 million
|
| Shares: | 2,551,020
|
| Price: | $0.49
|
| Warrants: | For 1,275,510 shares
|
| Warrant expiration: | Oct. 17, 2012
|
| Warrant strike price: | $0.50
|
| Investor: | Energenics Holdings Pte. Ltd.
|
| Pricing date: | Oct. 17
|
| Settlement date: | Oct. 27
|
| Stock symbol: | Amex: OTD
|
| Stock price: | $0.48 at close Oct. 22
|
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