Published on 6/30/2009 in the Prospect News PIPE Daily.
New Issue: AeroGrow International concludes $6.3 million preferreds, warrants sale
By Devika Patel
Knoxville, Tenn., June 30 - AeroGrow International, Inc. said it completed a $6.3 million private placement of preferred stock.
The company sold 6,836 preferreds, which are convertible into common shares at the rate of 5,000 shares per preferred.
Based in Boulder, Colo., AeroGrow develops a kitchen garden appliance used to grow herbs, salad greens and some fruits.
| Issuer: | AeroGrow International, Inc.
|
| Issue: | Convertible preferred stock
|
| Amount: | $6.3 million
|
| Shares: | 6,836
|
| Conversion rate: | 5,000 common shares per preferred
|
| Warrants: | Yes
|
| Settlement date: | June 30
|
| Stock symbol: | OTCBB: AERO
|
| Stock price: | $0.13 at close June 30
|
| Market capitalization: | $1.73 million
|
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