Deal sells shares at $0.04 apiece to fund working capital, development
By Devika Patel
Knoxville, Tenn., Jan. 27 - Dais Analytic Corp. arranged a $1.5 million private placement of stock with Soex (Hong Kong) Industry & Investment Co., Ltd. on Jan. 21, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company will sell 37.5 million common shares at $0.04 per share. The price per share is a 33.33% discount to $0.06, the Jan. 17 closing share price.
Settlement is expected March 7.
Proceeds will be used for working capital, business development and general business 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: | $1.5 million
|
| Shares: | 37.5 million
|
| Price: | $0.04
|
| Warrants: | No
|
| Investor: | Soex (Hong Kong) Industry & Investment Co., Ltd.
|
| Pricing date: | Jan. 27
|
| Settlement date: | March 7
|
| Stock symbol: | OTCBB: DLYT
|
| Stock price: | $0.06 at close Jan. 17
|
| Market capitalization: | $3.82 million
|
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