By Sheri Kasprzak
New York, Sept. 19 - Integral Technologies, Inc. completed a $2,361,074 private placement.
The company sold 1,180,537 shares at $2.00 each to 21 investors.
The investors also came away with warrants for 590,269 shares, exercisable at $2.50 each for two years.
The stock deal represents 6% of the company's outstanding stock.
The warrants may be redeemed at a penny each if the stock trades above $4.50 for more than 10 consecutive trading days.
Located in Bellingham, Wash., Integral develops antenna technologies, including a radio-frequency conductive antenna used for handheld wireless devices.
| Issuer: | Integral Technologies, Inc.
|
| Issue: | Stock
|
| Amount: | $2,361,074
|
| Shares: | 1,180,537
|
| Price: | $2.00
|
| Warrants: | For 590,269 shares
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $2.50
|
| Settlement date: | Sept. 15
|
| Stock symbol: | OTCBB: ITKG
|
| Stock price: | $3.77 at close Sept. 15
|
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