By Sheri Kasprzak
New York, Feb. 20 - O2Diesel Corp. received a $10 million common stock purchase agreement from Fusion Capital Fund II, LLC.
Under the 25-month agreement, Fusion may buy no more than 12 million shares at a price to be determined based upon the then-current market price.
Fusion may not buy shares from O2Diesel on any day that the company's stock trades below $0.50.
Based in Newark, Del., O2Diesel develops cleaner-burning diesel fuel.
| Issuer: | O2Diesel Corp.
|
| Issue: | Common stock purchase agreement
|
| Amount: | $10 million
|
| Tenor: | 25 months
|
| Price: | To be determined based upon market price
|
| Warrants: | No
|
| Investor: | Fusion Capital Fund II, LLC
|
| Settlement date: | Feb. 16
|
| Stock symbol: | Amex: OTD
|
| Stock price: | $0.82 at close Feb. 16
|
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