By Sheri Kasprzak
New York, Nov. 17 - Clyvia Inc. said it arranged a private placement for $2 million.
The company intends to sell to two corporate investors 1,801,802 units at $1.11 each.
The units are comprised of one share and one warrant. The warrants are exercisable at $1.35 each for two years.
The offering is scheduled to close Dec. 15.
Based in Point Roberts, Wash., Clyvia develops technologies used to produce diesel fuel and heating oil from various forms of recyclable waste materials.
Issuer: | Clyvia Inc.
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Issue: | Units of one share and one warrant
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Amount: | $2 million
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Units: | 1,801,802
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Price: | $1.11
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Warrants: | One warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | $1.35
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Pricing date: | Nov. 17
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Settlement date: | Dec. 15
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Stock price: | $1.50 at close Nov. 17
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