Deal sells 13,888,888 shares at $0.18 each to Precept Fund Management
By Devika Patel
Knoxville, Tenn., July 8 - Oak Ridge Micro-Energy, Inc. concluded a $2.5 million private placement of stock with Precept Fund Management Segregated Portfolio Corp. on July 1, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 13,888,888 common shares at $0.18 apiece. The price per share is a 43.75% discount to the June 28 closing share price of $0.32.
The Salt Lake City company licenses thin-film, solid-state batteries for industrial, government, and medical applications.
| Issuer: | Oak Ridge Micro-Energy, Inc.
|
| Issue: | Common stock
|
| Amount: | $2.5 million
|
| Shares: | 13,888,888
|
| Price: | $0.18
|
| Warrants: | No
|
| Investor: | Precept Fund Management Segregated Portfolio Corp.
|
| Settlement date: | July 1
|
| Stock symbol: | OTCBB: OKME
|
| Stock price: | $0.32 at close June 28
|
| Market capitalization: | $32 million
|
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