By Sheri Kasprzak
New York, April 11 - Lithium Technology Corp. settled a private placement of series C convertible preferred stock for $2 million.
The company sold 13,333.33 shares of the preferreds at $150 each.
Each preferred is convertible into 2,500 common shares at $0.06 each.
In December, the company sold $3.009 million of the preferreds under the same term.
Based in Plymouth Meeting, Pa., Lithium produces lithium batteries for cell phones and notebook computers.
| Issuer: | Lithium Technology Corp.
|
| Issue: | Series C convertible preferred stock
|
| Amount: | $2 million
|
| Shares: | 13,333.33
|
| Price: | $150
|
| Conversion ratio: | Into 2,500 common shares
|
| Conversion price: | $0.06
|
| Warrants: | No
|
| Settlement date: | April 4
|
| Stock symbol: | Pink Sheets: LTHU
|
| Stock price: | $0.04 at close April 4
|
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