By Sheri Kasprzak
New York, April 19 - Aradyme Corp. said it has arranged a $3 million private placement with Eagle Rock Capital, LLC.
Eagle Rock has agreed to buy 15 million shares at $0.20 each.
The investor will also receive warrants for 18.75 million shares, exercisable at $0.40 each through Dec. 12, 2011.
The deal will be completed in several tranches.
The placement was first priced on Dec. 12, 2005, but the pricing terms were amended.
Based in Orem, Utah, Aradyme is a data management company focused on data migration and conversion, integration and application development.
| Issuer: | Aradyme Corp.
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| Issue: | Stock
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| Amount: | $3 million
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| Shares: | 15 million
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| Price: | $0.20
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| Warrants: | For 18.75 million shares
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| Warrant expiration: | Dec. 12, 2011
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| Warrant strike price: | $0.40
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| Investor: | Eagle Rock Capital, LLC
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| Announcement date: | April 19
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| Stock symbol: | OTCBB: ADYE
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| Stock price: | $0.30 at close April 19
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