By Sheri Kasprzak
New York, Oct. 4 - O2Diesel Corp. said it has completed a private placement for $2.3 million.
The company sold 3,228,070 shares at $0.7125 each to a single European investor.
The investor also received warrants for 1,614,035 shares, exercisable at $1.425 each for 42 months.
O2Diesel agreed to sell up to 982,456 additional shares under the same terms. The investor must acquire the additional shares within 180 days.
Based in Newark, Del., O2Diesel develops cleaner-burning diesel fuel alternatives.
| Issuer: | O2Diesel Corp.
|
| Issue: | Stock
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| Amount: | $2.3 million
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| Shares: | 3,228,070
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| Price: | $0.7125
|
| Warrants: | For 1,614,035 shares
|
| Warrant expiration: | 42 months
|
| Warrant strike price: | $1.425
|
| Settlement date: | Sept. 28
|
| Stock price: | $0.80 at close Sept. 28
|
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