By Laura Lutz
Des Moines, Nov. 5 - Organic To Go Food Corp. raised $1.44 million from the second and final tranche of a $5.71 million private placement, according to an 8-K filing with the Securities and Exchange Commission.
That total is down from the $6 million size announced in an 8-K filed on Oct. 18.
This tranche included 821,425 shares along with warrants for 369,641 shares. The first tranche, which settled on Oct. 12, consisted of 2,443,000 shares and warrants for 1,099,350 shares.
The shares are priced at $1.75 each. The warrants are each exercisable at $2.50 for five years.
Final settlement was expected within five days, as of an 8-K filed with the Securities and Exchange Commission on Thursday.
Seattle-based Organic To Go operates casual restaurants that sell organic food.
| Issuer: | Organic To Go Corp.
|
| Issue: | Stock
|
| Amount: | $5.71 million
|
| Shares: | 3,264,425
|
| Price: | $1.75
|
| Warrants: | For 1,468,991 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $2.50
|
| Settlement date: | Oct. 12 (for $4,275,250); Oct. 24 (for $1,437,494)
|
| Stock symbol: | OTCBB: OTGO
|
| Stock price: | $1.95 at close Oct. 12
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
