18-month options included; deal funds Fire Retardant Nylon technology
By Devika Patel
Knoxville, Tenn., Feb. 21 - Alexium International Group Ltd. said it concluded a A$1.2 million private placement of shares.
The company sold 15 million shares at A$0.08 per share. The price per share represents a 20% discount to the Feb. 20 closing share price of A$0.10.
The shares come with a one-for-three 18-month option. The option is exercisable at A$0.125, which is a 25% premium to the Feb. 20 closing share price.
Proceeds will enable Alexium to fast track the company's Fire Retardant Nylon technology.
Based in Perth, Western Australia, Alexium is developing and licensing its Reactive Surface Treatment technology to provide services for commercial and military customers.
| Issuer: | Alexium International Group Ltd.
|
| Issue: | Shares
|
| Amount: | A$1.2 million
|
| Shares: | 15 million
|
| Price: | A$0.08
|
| Options: | One option for every three shares sold
|
| Option expiration: | 18 months
|
| Option strike price: | A$0.125
|
| Manager: | RBS Morgans (lead)
|
| Settlement date: | Feb. 21
|
| Stock symbol: | Australia: AJX
|
| Stock price: | A$0.10 at close Feb. 20
|
| Market capitalization: | A$11.11 million
|
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