Deal offers stock at $0.03 per share, a 25% discount to closing price
By Susanna Moon
Chicago, Sept. 15 – OriginClear, Inc. sold $416,500 more shares in the fourth tranche of a $2 million private placement of stock between Sept. 4 and Sept. 15, according to an 8-K filing with the Securities and Exchange Commission. The company settled the $337,050 third tranche between Aug. 7 and Sept. 2, $62,500 between June 25 and July 1 and $77,000 between July 2 and July 20. The deal priced June 25.
The company sold to 13,883,337 shares in the most recent tranche.
As previously announced, 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.
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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 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), between Sept. 4 and Sept. 15 (for $416,500)
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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: | $8.55 million
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