Published on 1/28/2008 in the Prospect News PIPE Daily.
New Issue: Organic To Go sells $2 million of stock, warrants in placement
By Devika Patel
Knoxville, Tenn., Jan. 28 - Organic To Go Food Corp. completed a $2 million private placement of units, according to an 8-K filed Monday with the Securities and Exchange Commission.
According to the filing, the company sold 1,428,572 shares at $1.40 apiece on Jan. 25. Investors also received warrants to buy 642,858 shares, which are exercisable at $2.50 per share for five years.
Seattle-based Organic To Go operates casual restaurants that sell organic food.
| Issuer: | Organic To Go Food Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $2 million
|
| Shares: | 1,428,572
|
| Price: | $1.40
|
| Warrants: | For 642,858 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $2.50
|
| Settlement date: | Jan. 25
|
| Stock symbol: | OTCBB: OTGO
|
| Stock price: | $1.45 at close Jan. 25
|
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