Ozone Man raises $5 million in private placement of stock, preferreds

By Devika Patel

Knoxville, Tenn., March 2 - The Ozone Man, Inc. completed a $5 million private placement of its common stock and preferred stock on Feb. 27, according to an 8-K filed Monday with the Securities and Exchange Commission.

A total of 350,000 common shares and 3,250 preferred shares, which are convertible into 650,000 common shares, were sold.

The proceeds from the transaction will be used to capitalize on business expansion opportunities and programs related to branding of the product and services in key geographies.

Based in Beverly Hills, Calif., Ozone Man is engaged in home inspection, air quality testing and ozone indoor cleaning together with ultraviolet germicidal maintenance and intends to franchise and/or license these operations.

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