Deal offers stock at $0.03 per share, a 25% discount to closing price
By Devika Patel
Knoxville, Tenn., July 1 – OriginClear, Inc. settled a $62,500 initial tranche of a $2 million private placement of stock between June 25 and July 1, according to an 8-K filed Wednesday with the Securities and Exchange Commission. The deal priced on June 25.
The company is selling common shares at $0.03 apiece. The price per share is a 25% discount to the June 24 closing share price of $0.04.
OriginClear sold 2,083,333 shares in the first tranche.
The water purification technology company is based in Los Angeles.
Issuer: | OriginClear, Inc.
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Issue: | Common stock
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Amount: | $2 million
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Price: | $0.03
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Warrants: | No
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Pricing date: | June 25
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Settlement date: | Between June 25 and July 1 (for $62,500)
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Stock symbol: | OTCBB: OOIL
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Stock price: | $0.04 at close June 24
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Market capitalization: | $4.97 million
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