Common shares sold to investors at $1.30 per share through offering
By Devika Patel
Knoxville, Tenn., June 9 – Meridian Waste Solutions, Inc. completed a $425,000 initial tranche of a $3 million private placement of stock and warrants on June 3, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company is selling common shares at $1.30 per share. The price per share is a 13.33% discount to $1.50, the June 2 closing share price. Meridian sold 326,923 shares with warrants in the first tranche.
Proceeds will be used for capital expenditures.
The residential and commercial waste hauling company is based in Milton, Ga.
| Issuer: | Meridian Waste Solutions, Inc.
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| Issue: | Common stock
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| Amount: | $3 million
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| Price: | $1.30
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| Warrants: | Yes
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| Settlement date: | June 3 (for $425,000)
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| Stock symbol: | OTCBB: MRDN
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| Stock price: | $1.50 at close June 2
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| Market capitalization: | $29.99 million
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