By Sheri Kasprzak
New York, Dec. 6 - Electric Aquagenics Unlimited Inc. said it has settled a private placement of units for $3,087,750.
The company issued 876,500 units to accredited investors.
The units are comprised of one share and one half-share warrant. The whole warrants allow for another share at $3.17 each through Dec. 31, 2010.
Electric Aquagenics intended to sell 1 million units in the deal.
Nexcore Capital Inc. was the placement agent for the offering.
Proceeds will be used for working capital.
Electric Aquagenics, based in Lindon, Utah, produces water-based solutions for cleaning, disinfecting, hydrating and moisturizing.
Issuer: | Electric Aquagenics Unlimited Inc.
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Issue: | Units of one share and one half-share warrant
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Amount: | $3,087,750
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Units: | 876,500
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Warrants: | One half-share warrant per unit
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Warrant expiration: | Dec. 31, 2010
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Warrant strike price: | $3.17
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Placement agent: | Nexcore Capital Inc.
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Settlement date: | Dec. 5
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Stock price: | $2.52 at close Dec. 5
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