AMP wraps $695,000 tranche of $4.35 million placement of stock

Company sells shares at $0.60 apiece through multiple tranches

By Devika Patel

Knoxville, Tenn., Nov. 23 - AMP Holding Inc. settled another tranche of a $4.35 million private placement of stock, this one for $695,000 on Nov. 22, according to an 8-K filed Wednesday with the Securities and Exchange Commission. The company previously raised $3.66 million in five tranches between May 10 and Oct. 26.

The company sold a total of 7,257,466 common shares at $0.60 apiece. The price per share reflects a 25% discount to $0.80, the May 9 closing share price.

Investors also received warrants for a total of 3,628,733 common shares, which are exercisable at $0.80 per share for two years. The strike price is identical to the May 9 closing share price.

John Carris Investments LLC was the agent.

The Overland Park, Kan., company designs, markets and sells modified automobiles.

Issuer:	AMP Holding Inc.
Issue:	Common stock
Amount:	$4,354,480
Shares:	7,257,466
Price:	$0.60
Warrants:	For 3,628,733 shares
Warrant expiration:	Two years
Warrant strike price:	$0.80
Agent:	John Carris Investments LLC
Settlement date:	May 10 (for $282,500), May 25 (for $2,033,000), June 29 (for $1,124,000), Sept. 20 (for $115,000), Oct. 26 (for $105,000), Nov. 22 (for $695,000)
Stock symbol:	OTCBB: AMPD
Stock price:	$0.92 at close May 10
Market capitalization:	$18.54 million

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