Deal offers stock at $0.03 per share, a 25% discount to closing price
By Devika Patel
Knoxville, Tenn., Sept. 3 – OriginClear, Inc. settled a $337,050 third tranche of a $2 million private placement of stock between Aug. 7 and Sept. 2, according to an 8-K filed Thursday with the Securities and Exchange Commission. The deal priced on June 25. The company raised $62,500 between June 25 and July 1 and $77,000 between July 2 and July 20.
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, 2,566,670 shares in the second tranche and 11,235,002 shares in the third 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 dates: | Between June 25 and July 1 (for $62,500), between July 2 and July 20 (for $77,000), between Aug. 7 and Sept. 2 (for $337,050)
|
| Stock symbol: | OTCBB: OOIL
|
| Stock price: | $0.04 at close June 24
|
| Market capitalization: | $8.55 million
|
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