By Sheri Kasprzak
New York, June 9 - Material Technologies, Inc. negotiated a $3 million private placement.
The company will sell shares at a price equal to 37.5% of the closing stock price the day before the shares are offered, with a $0.05 floor.
Distribution agent Regulation-S.com, SA will have until May 31, 2007 to purchase up to $3 million in shares.
Based in Los Angeles, Material Technologies develops technologies to detect defects in the structural integrity of buildings.
| Issuer: | Material Technologies, Inc.
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| Issue: | Stock
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| Amount: | $3 million (maximum)
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| Price: | Equal to 37.5% of the closing stock price the day before a sale, $0.05 floor
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| Warrants: | No
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| Distribution agent: | Regulation-S.com, SA
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| Pricing date: | June 6
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| Stock symbol: | OTCBB: MTNA
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| Stock price: | $0.11 at close June 6
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