Deal sells units of one common share and one warrant at $0.15 per unit
By Devika Patel
Knoxville, Tenn., March 12 - Envision Solar International, Inc. settled a $607,500 tranche of a private placement of units on March 6, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The company is selling units of one common share and one warrant at $0.15 per unit. Each warrant is exercisable at $0.15 for three years. The strike price is an 11.77% discount to the March 5 closing share price of $0.17. Envision sold 4.05 million units in this tranche.
The solar project and technology developer is based in San Diego.
| Issuer: | Envision Solar International, Inc.
|
| Issue: | Units of one common share and a warrant
|
| Amount: | $607,500
|
| Units: | 4.05 million
|
| Price: | $0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $0.15
|
| Settlement date: | March 6
|
| Stock symbol: | OTCBB: EVSI
|
| Stock price: | $0.17 at close March 5
|
| Market capitalization: | $11.47 million
|
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