Company sells units of shares with two-year warrants at $0.05 per unit
By Devika Patel
Knoxville, Tenn., June 12 - 5BARz International Corp. completed a $626,750 private placement of units between Jan. 4 and May 31, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The company sold 12,535,000 units of one common share and one warrant at $0.05 per unit.
Each two-year warrant is exercisable at $0.20. The strike price is a 122.22% premium to the Jan. 3 closing share price of $0.09.
The Mission Viejo, Calif.-based company is the exclusive worldwide distributor of 5BARz Cellular Network Extender products developed by Cellynx.
| Issuer: | 5BARz International Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $626,750
|
| Units: | 12,535,000
|
| Price: | $0.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $0.20
|
| Settlement date: | Jan. 4 through May 31
|
| Stock symbol: | OTCBB: BARZ
|
| Stock price: | $0.09 at close Jan. 3
|
| Market capitalization: | $20.13 million
|
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