By Devika Patel
Knoxville, Tenn., Aug. 20 - ActiveCare, Inc. arranged a $7.5 million private placement of stock on Aug. 20, according to an 8-K filed Friday with the Securities and Exchange Commission. It will receive $2.5 million of the proceeds in the next 30 days.
The company will sell common shares at $0.75 per share. The price per share represents a 1.32% discount to the Aug. 19 closing share price of $0.76.
The telematic and biosensor technology company is based in West Valley City, Utah.
| Issuer: | ActiveCare, Inc.
|
| Issue: | Common stock
|
| Amount: | $7.5 million
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| Price: | $0.75
|
| Warrants: | No
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| Pricing date: | Aug. 20
|
| Stock symbol: | OTCBB: ACAR
|
| Stock price: | $0.76 at close Aug. 19
|
| Market capitalization: | $12.56 million
|
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