By Sheri Kasprzak
New York, June 27 - Organic To Go Food Corp. secured $6.35 million from a private placement.
The company agreed to sell 3.175 million shares at $2.00 each.
The investors also received warrants for 1.27 million shares, each exercisable at $2.50 for five years.
Roth Capital Partners, LLC was the placement agent.
Proceeds will be used for entry into new markets and for expansion into existing corporate catering services, new retail cafes and new outlets.
Based in Seattle, Organic To Go Food operates outlets and retail cafes serving organic food.
| Issuer: | Organic To Go Food Corp.
|
| Issue: | Stock
|
| Amount: | $6.35 million
|
| Shares: | 3.175 million
|
| Price: | $2.00
|
| Warrants: | For 1.27 million shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $2.50
|
| Placement agent: | Roth Capital Partners, LLC
|
| Settlement date: | June 26
|
| Stock symbol: | OTCBB: OTGO
|
| Stock price: | $2.08 at close June 26
|
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