Deal sells 3.23 million shares at $0.03 each to fund working capital
By Devika Patel
Knoxville, Tenn., Aug. 29- Integrated Environmental Technologies, Ltd. settled a $97,000 private placement of stock on Aug. 23, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company sold 3,233,333 common shares at $0.03 apiece. The price per share is a 66.67% discount to the Aug. 22 closing share price of $0.09.
Proceeds will be used for working capital purposes, including the roll out of the company's sales and marketing strategy.
The Little River, S.C., company produces and sells hypochlorous acid as well as an anti-oxidizing, mildly alkaline solution that provide an environmentally friendly alternative for cleaning, sanitizing and disinfecting.
| Issuer: | Integrated Environmental Technologies, Ltd.
|
| Issue: | Common stock
|
| Amount: | $97,000
|
| Shares: | 3,233,333
|
| Price: | $0.03
|
| Warrants: | No
|
| Settlement date: | Aug. 23
|
| Stock symbol: | OTCBB: IEVM
|
| Stock price: | $0.09 at close Aug. 22
|
| Market capitalization: | $18.01 million
|
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