Company sells 8.1 million common shares at $0.25 apiece through deal
By Devika Patel
Knoxville, Tenn., July 30 – Oakridge Global Energy Solutions, Inc. raised $2 million in a private placement of stock on July 10, according to an 8-K filed Thursday with the Securities and Exchange Commission. It raised another $25,000 on July 19.
The company sold 8.1 million common shares at $0.25 per share. The price per share reflects a 63.24% discount to the July 9 closing share price of $0.68. It sold 8 million shares on July 10 and 100,000 shares on July 19.
The Melbourne, Fla., company licenses thin-film, solid-state batteries for industrial, government, and medical applications.
| Issuer: | Oakridge Global Energy Solutions, Inc.
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| Issue: | Common stock
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| Amount: | $2,025,000
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| Shares: | 8.1 million
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| Price: | $0.25
|
| Warrants: | No
|
| Investor: | Precept Fund Management SPC
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| Settlement dates: | July 10 (for $2 million), July 19 (for $25,000)
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| Stock symbol: | OTCBB: OGES
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| Stock price: | $0.68 at close July 9
|
| Market capitalization: | $105.75 million
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