Deal offers stock at $0.01 per share, a 50% discount to closing price
By Devika Patel
Knoxville, Tenn., June 6 – OriginClear, Inc. settled a $268,000 private placement of stock between May 23 and June 3, according to an 8-K filing with the Securities and Exchange Commission.
The company sold 26.8 million common shares at $0.01 apiece. The price per share is a 50% discount to the May 20 closing share price of $0.02.
The water purification technology company is based in Los Angeles.
Issuer: | OriginClear, Inc.
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Issue: | Common stock
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Amount: | $268,000
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Shares: | 26.8 million
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Price: | $0.01
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Warrants: | No
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Settlement date: | Between May 23 and June 3
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Stock symbol: | OTCBB: OOIL
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Stock price: | $0.02 at close May 20
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Market capitalization: | $5.95 million
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