By Devika Patel
Knoxville, Tenn., Aug. 6 - Aduromed Industries, Inc. said it completed a $3.8 million private placement of stock.
The company sold 271,497,456 common shares.
Investors also received warrants for 235,497,455 common shares, exercisable at $0.025.
Proceeds will be used for working capital, general corporate purposes and to help implement the company's new business plan.
Aduromed, based in Bethel, Conn., provides services for managing medical waste on site, including designing, selling, installing and servicing onsite, turnkey systems to treat regulated medical waste.
| Issuer: | Aduromed Industries, Inc.
|
| Issue: | Common stock
|
| Amount: | $3.8 million
|
| Shares: | 271,497,456
|
| Warrants: | For 235,497,455 shares
|
| Warrant strike price: | $0.025
|
| Settlement date: | Aug. 6
|
| Stock symbol: | OTCBB: ADRM
|
| Stock price: | $0.21 at close Aug. 5
|
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