Company offers units of two shares and two warrants to Maxum Overseas
By Devika Patel
Knoxville, Tenn., June 28 - Oryon Technologies Inc. arranged a $2 million private placement of units with Maxum Overseas Fund on Nov. 2, according to an 8-K filed Thursday with the Securities and Exchange Commission. The company raised $725,000 in the placement between Nov. 2 and April 23.
The company sold 725,000 units of two common shares and warrants for two shares at $1.00 per unit.
Each warrant is exercisable at $0.75 for five years. The strike price is a 92.31% premium to $2.60, the Nov. 1 closing share price.
Oryon is an Addison, Texas, developer and manufacturer of next-generation electroluminescent lighting technology.
Issuer: | Oryon Technologies Inc.
|
Issue: | Units of two common shares and warrants for two shares
|
Amount: | $2 million
|
Units: | 2 million
|
Price: | $1.00
|
Warrants: | Warrants for two shares per unit
|
Warrant expiration: | Five years
|
Warrant strike price: | $0.75
|
Investor: | Maxum Overseas Fund
|
Settlement date: | April 23 (for $725,000)
|
Stock symbol: | OTCBB: ORYN
|
Stock price: | $2.75 at close Nov. 1
|
Market capitalization: | $21.75 million
|
© 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.