By Sheri Kasprzak
New York, May 16 - Lithium Technology Corp. completed a $2.035 million private placement of series C convertible preferred stock.
The company issued 13,566.67 shares of the preferreds at $150.00 each.
Each preferred is convertible into 2,500 common shares at $0.06 each.
Based in Plymouth Meeting, Pa., Lithium develops rechargeable lithium batteries used in notebook computers and cell phones.
| Issuer: | Lithium Technology Corp.
|
| Issue: | Series C convertible preferred stock
|
| Amount: | $2.035 million
|
| Shares: | 13,566.67
|
| Price: | $150.00
|
| Conversion price: | $0.06
|
| Conversion ratio: | Each preferred for 2,500 common shares
|
| Warrants: | No
|
| Settlement date: | May 11
|
| Stock symbol: | Pink Sheets: LTHU
|
| Stock price: | $0.08 at close May 11
|
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