By Sheri Kasprzak
New York, July 12 - Chartwell International, Inc. has released the full details on its $10,549,000 private placement.
The company agreed to sell up to 7,032,667 shares at $1.50 each to foreign institutional investors and other accredited investors.
By July 8, the company had issued a total of 6,077,267 shares for proceeds of $9,115,900.
The company has signed definitive subscription agreements for the remaining 955,400 shares.
Orchestra Finance LLP was the placement agent.
Based in Charleston, W.Va., Chartwell acquires and develops natural resources and environmental facilities, including landfill management facilities. The proceeds will be used for working capital.
| Issuer: | Chartwell International, Inc.
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| Issue: | Stock
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| Amount: | $10,549,000
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| Shares: | 7,032,667
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| Price: | $1.50
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| Warrants: | No
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| Placement agent: | Orchestra Finance LLP
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| Settlement date: | July 8 (for $9,115,900)
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| Stock price: | $3.50 at close July 8
|
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