Company sells shares at $0.10 apiece with warrants for 587,500 shares
By Devika Patel
Knoxville, Tenn., July 23 - Dais Analytic Corp. settled a $235,000 private placement of stock on July 15, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The company sold 2.35 million common shares at $0.10 per share. The price per share is a 23.08% discount to $0.13, the July 12 closing share price.
Investors also received warrants for 587,500 shares, which are each exercisable at $0.50 for five years. The strike price reflects a 284.62% premium to the July 12 closing price.
Proceeds will be used for working capital purposes.
Dais, based in Odessa, Fla., provides nanotechnology-based applications for heating and cooling, water treatment and energy storage.
| Issuer: | Dais Analytic Corp
|
| Issue: | Common stock
|
| Amount: | $235,000
|
| Shares: | 2.35 million
|
| Price: | $0.10
|
| Warrants: | For 587,500 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.50
|
| Settlement date: | July 15
|
| Stock symbol: | OTCBB: DLYT
|
| Stock price: | $0.13 at close July 12
|
| Market capitalization: | $4.5 million
|
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