Non-brokered offering sells 20 million units with three-year warrants
By Devika Patel
Knoxville, Tenn., Feb. 23 – EEStor Corp. said it raised C$461,359 in the second tranche of a C$3 million non-brokered private placement of units. The deal priced on Dec. 14 and raised C$1.58 million on Dec. 24.
The company is selling 20 million units of one common share and one warrant at C$0.15 per unit. It sold 10,559,938 units in the initial tranche and 3,075,723 units in the second tranche.
Each three-year warrant is exercisable at C$0.30, a 100% premium to the Dec. 11 closing share price of C$0.15.
The Toronto company develops electrical energy storage and related capacitor technologies.
| Issuer: | EEStor Corp.
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| Issue: | Units of one common share and one warrant
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| Amount: | C$3 million
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| Units: | 20 million
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| Price: | C$0.15
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| Warrants: | One warrant per unit
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| Warrant expiration: | Three years
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| Warrant strike price: | C$0.30
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| Agent: | Non-brokered
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| Pricing date: | Dec. 14
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| Settlement date: | Dec. 24 (for C$1,583,991), Feb. 23 (for C$461,359)
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| Stock symbol: | TSX Venture: ESU
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| Stock price: | C$0.15 at close Dec. 11
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| Market capitalization: | C$11.53 million
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