Offering sells 1,416,667 common shares at $0.18 per share to Prescient
By Devika Patel
Knoxville, Tenn., May 13 - Oak Ridge Energy Technologies, Inc. raised $255,000 in a private placement of stock with Precept Fund Management SPC on behalf of Prescient Fund Segregated Portfolio on April 9, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The company sold 1,416,667 common shares at $0.18 apiece. The price per share is an 84.75% discount to the April 8 closing share price of $1.18.
The Melbourne, Fla., company licenses thin-film, solid-state batteries for industrial, government and medical applications.
| Issuer: | Oak Ridge Energy Technologies, Inc.
|
| Issue: | Common stock
|
| Amount: | $255,000
|
| Shares: | 1,416,667
|
| Price: | $0.18
|
| Warrants: | No
|
| Investor: | Precept Fund Management SPC on behalf of Prescient Fund Segregated Portfolio
|
| Settlement date: | April 9
|
| Stock symbol: | OTCBB: OKME
|
| Stock price: | $1.18 at close April 8
|
| Market capitalization: | $75.09 million
|
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