Company to sell between 850,000 and 1 million shares at $2.00 apiece
By Devika Patel
Knoxville, Tenn., May 23 – Milestone Scientific Inc. said it will raise between $1.7 million and $2 million in a private placement of stock.
The company will sell between 850,000 and 1 million common shares at $2.00 per share. The price per share is a 14.9% discount to the May 20 closing share price of $2.35.
Based in Livingston, N.J., Milestone develops, manufactures and markets computer-controlled local anesthetic delivery systems for medical and dental uses.
| Issuer: | Milestone Scientific Inc.
|
| Issue: | Common stock
|
| Amount: | $1.7 million (minimum), $2 million (maximum)
|
| Shares: | 850,000 (minimum), 1 million (maximum)
|
| Price: | $2.00
|
| Warrants: | No
|
| Pricing date: | May 23
|
| Stock symbol: | OTCBB: MLSS
|
| Stock price: | $2.35 at close May 20
|
| Market capitalization: | $49.23 million
|
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