India Globalization enters $10 million at-the-market sales agreement

IFS Securities is the agent, will be paid a 5% commission on any sales

By Devika Patel

Knoxville, Tenn., May 20 – India Globalization Capital Inc. negotiated a $10 million at-the-market sales agreement on May 20, according to a prospectus supplement and 8-K filed Friday with the Securities and Exchange Commission.

IFS Securities, Inc. is the agent and will be paid a 5% commission.

Proceeds will be used for working capital and capital expenditure requirements, including potential acquisitions, investments or joint ventures.

India Globalization Capital, based in Bethesda, Md., is developing and commercializing a portfolio of cannabinoid based biopharmaceutical therapies for end of life supportive care, hospice care, and chronic neurological and oncological diagnosis.

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