By Susanna Moon
Chicago, July 20 - O2Diesel Corp. said it settled an upsized private placement of shares for about $2.19 million.
The company sold 5,323,346 shares to European investors for approximately $0.41 per share.
The investors will also receive warrants for 1,330,827 shares exercisable at $0.62 each for five years beginning six months after issuance.
O2Diesel priced the placement of shares at $1,878,932 for 4,582,760 shares on July 9.
Proceeds will be used for working capital.
Based in Newark, Del., O2Diesel produces a diesel fuel alternative.
| Issuer: | O2Diesel Corp.
|
| Issue: | Shares
|
| Amount: | $2,190,060
|
| Shares: | 5,323,346
|
| Price: | $0.41
|
| Warrants: | For 1,330,827 shares
|
| Warrant expiration: | Five years, beginning six months after issuance
|
| Warrant strike price: | $0.62
|
| Pricing date: | July 9
|
| Settlement date: | July 20
|
| Stock symbol: | Amex: OTD
|
| Stock price: | $0.49 at close July 6
|
| Stock price: | $0.53 at close July 19
|
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