Deal offers stock at $0.03 per share, a 25% discount to closing price
By Devika Patel
Knoxville, Tenn., July 24 – OriginClear, Inc. settled a $77,000 second tranche of a $2 million private placement of stock between July 2 and July 20, according to an 8-K filed Friday with the Securities and Exchange Commission. The deal priced on June 25 and raised $62,500 between June 25 and July 1.
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 and 2,566,670 shares in the second tranche.
The water purification technology company is based in Los Angeles.
| Issuer: | OriginClear, Inc.
|
| Issue: | Common stock
|
| Amount: | $2 million
|
| Price: | $0.03
|
| Warrants: | No
|
| Pricing date: | June 25
|
| Settlement date: | Between June 25 and July 1 (for $62,500), between July 2 and July 20 (for $77,000)
|
| Stock symbol: | OTCBB: OOIL
|
| Stock price: | $0.04 at close June 24
|
| Market capitalization: | $5.45 million
|
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