Company sells 19.64 million shares at $0.015 each with warrants
By Toni Weeks
San Diego, Sept. 18 - Neah Power Systems, Inc. said it settled a private placement of stock on Sept. 12 to raise $294,600, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The company sold 19.64 million shares at $0.015 each.
Investors also received 19.64 million warrants, each one exercisable for three years at $0.0225.
The strike price is a 40.63% premium to the closing share price of $0.016 on Sept. 10.The per-share price is a 6.25% discount to that price.
Bothell, Wash.-based Neah Power develops methanol fuel cells using silicon-based technologies.
| Issuer: | Neah Power Systems, Inc.
|
| Issue: | Common shares
|
| Amount: | $294,600
|
| Shares: | 19.64 million
|
| Price: | $0.015
|
| Warrants: | For 19.64 million shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.015
|
| Settlement date: | Sept. 12
|
| Stock symbol: | OTCBB: NPWZ
|
| Stock price: | $0.016 at close Sept. 10
|
| Market capitalization: | $5.82 million
|
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