By Laura Lutz
Des Moines, July 9 - O2Diesel Corp. arranged a private placement of shares for $1,878,932.
The company agreed to sell 4,582,760 shares to European investors for $0.41 per share.
The investors will also receive warrants for 1,145,680 shares, exercisable at $0.62 each for five years beginning six months after issuance.
Settlement is expected within 30 days.
Proceeds will be used for working capital.
Based in Newark, Del., O2Diesel produces a diesel fuel alternative.
| Issuer: | O2Diesel Corp.
|
| Issue: | Shares
|
| Amount: | $1,878,932
|
| Shares: | 4,582,760
|
| Price: | $0.41
|
| Warrants: | For 1,145,680 shares
|
| Warrant expiration: | Five years, beginning six months after issuance
|
| Warrant strike price: | $0.62
|
| Pricing date: | July 9
|
| Stock symbol: | Amex: OTD
|
| Stock price: | $0.49 at close July 6
|
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