By Sheri Kasprzak
New York, Feb. 20 - AeroGrow International, Inc. priced a $4 million private placement.
The offering includes up to 666,666 units at $6.00 each.
The units consist of one share and one warrant. Each warrant is exercisable at $7.50 each for five years.
Proceeds will be used for working capital for new product introduction into new specialty channels and to extend its product distribution into the lawn and garden and hydroponics business.
Based in Boulder, Colo., AeroGrow produces indoor aeroponic garden systems.
| Issuer: | AeroGrow International, Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | $4 million
|
| Units: | 666,666
|
| Price: | $6.00
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $7.50
|
| Pricing date: | Feb. 20
|
| Stock symbol: | OTCBB: AGWI
|
| Stock price: | $7.40 at close Feb. 20
|
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