Company heralds registered sale of stock, warrants at $0.60 per share
By Devika Patel
Knoxville, Tenn., Dec. 9 - India Globalization Capital Inc. said it completed a registered direct offering of stock. The deal raised $1.55 million.
The company sold 2,575,830 common shares. The purchase price of $0.60 per share reflects a 4.76% discount to the $0.63 closing share price on Dec. 8.
Investors also received warrants for 858,610 shares, each exercisable at $0.90 until Dec. 8, 2017. The strike price reflects a premium of 42.86% to the Dec. 8 closing share price.
India Globalization Capital, based in Bethesda, Md., invests in renewable energy concerns.
| Issuer: | India Globalization Capital Inc.
|
| Issue: | Common stock
|
| Amount: | $1,545,498
|
| Shares: | 2,575,830
|
| Price: | $0.60
|
| Warrants: | For 858,610 shares
|
| Warrant expiration: | Dec. 8, 2017
|
| Warrant strike price: | $0.90
|
| Settlement date: | Dec. 9
|
| Stock symbol: | NYSE: IGC
|
| Stock price: | $0.63 at close Dec. 8
|
| Market capitalization: | $7.85 million
|
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