By Sheri Kasprzak
Atlanta, Oct. 29 - Electric Aquagenics Unlimited Inc. received $10 million in a standby equity distribution agreement from Cornell Capital Partners LP.
Cornell will provide the funding to Electric Aquagenics over 24 months, to be drawn down at the company's discretion by the sale of stock to Cornell.
Electric Aquagenics, based in Lindon, Utah, produces water-based products for cleaning, disinfecting, hydrating and moisturizing.
Issuer: | Electric Aquagenics Unlimited Inc.
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Issue: | Standby equity distribution agreement
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Amount: | $10 million
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Tenor: | Two years
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Warrants: | No
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Investor: | Cornell Capital Partners LP
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Announcement date: | Oct. 29
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Stock price: | $4.25 at close Oct. 29
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