By Sheri Kasprzak
New York, Nov. 29 - O2Diesel Corp. wrapped a private placement for $1 million.
The company sold 1,371,742 shares at $0.729 each to Energenics Holdings Pte. Ltd. and its subsidiary, Energenics Pte. Ltd.
The investors received warrants for 685,871 shares, exercisable at $0.972 each for five and a half years.
Connected to the offering, the two companies entered into a five-year agreement to supply O2Diesel's fuel technology. Energenics will brand the cleaner-burning fuel as EnerDiesel in Asia and South Africa.
Based in Newark, Del., O2Diesel develops cleaner-burning diesel fuel.
| Issuer: | O2Diesel Corp.
|
| Issue: | Stock
|
| Amount: | $1 million
|
| Shares: | 1,371,742
|
| Price: | $0.729
|
| Warrants: | For 685,871 shares
|
| Warrant expiration: | Five and a half years
|
| Warrant strike price: | $0.972
|
| Investors: | Energencis Holdings Pte. Ltd. and Energenics Pte. Ltd.
|
| Settlement date: | Nov. 22
|
| Stock symbol: | Amex: OTD
|
| Stock price: | $0.69 at close Nov. 22
|
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