By Devika Patel
Knoxville, Tenn., June 30 - TraceGuard Technologies, Inc. sold $1.1 million of its units in a private placement on June 30, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 7,333,333 units at $0.15 apiece to Joseph Grinkorn. The units each consist of one common share and one warrant. The whole warrants are exercisable at $0.80 for three years.
The purchase price is payable in four installments, with the first $200,000 installment paid on June 30, the second and third installments of $200,000 each payable on July 5 and July 22 and the fourth installment of $500,000 payable by Aug. 31.
New York-based TraceGuard develops technologies used to trace explosives.
| Issuer: | TraceGuard Technologies, Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $1,099,999.95
|
| Units: | 7,333,333
|
| Price: | $0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $0.80
|
| Investor: | Joseph Grinkorn
|
| Settlement date: | June 30
|
| Stock symbol: | OTCBB: TCGD
|
| Stock price: | $0.31 at close June 27
|
© 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.
