2 million units of a common share, one warrant sold at $0.50 per unit
By Devika Patel
Knoxville, Tenn., Oct. 8 – EuroSite Power Inc. settled a $1 million private placement of units on Oct. 8, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The company sold 2 million units of one common share and one warrant at $0.50 per unit.
Each warrant is exercisable at $0.60 for three years. The strike price is a 17.65% premium to $0.51, the Oct. 7 closing share price.
The London company distributes, owns and operates clean, on-site energy systems that produce electricity, hot water, heat and cooling in the United Kingdom and Europe.
Issuer: | EuroSite Power Inc.
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Issue: | Units of one common share and one warrant
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Amount: | $1 million
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Units: | 2 million
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Price: | $0.50
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Warrants: | One warrant per unit
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Warrant expiration: | Three years
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Warrant strike price: | $0.60
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Settlement date: | Oct. 8
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Stock symbol: | OTCBB: EUSP
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Stock price: | $0.51 at close Oct. 7
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Market capitalization: | $26.1 million
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