By Devika Patel
Knoxville, Tenn., Dec. 16 - New Generation Biofuels Holdings, Inc. said it settled a $1.54 million registered direct offering of stock.
The company sold 1,926,250 common shares at $0.80 per share.
The investors also received warrants for 577,875 shares. The warrants are exercisable at $0.90 for five years.
Jesup & Lamont Securities Corp. was the agent.
Proceeds will be used for general corporate purposes.
Based in Houston, New Generation Biofuels is a development-stage renewable fuels provider.
| Issuer: | New Generation Biofuels Holdings, Inc.
|
| Issue: | Common shares
|
| Amount: | $1,541,000
|
| Shares: | 1,926,250
|
| Price: | $0.80
|
| Warrants: | For 577,875 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.90
|
| Agent: | Jesup & Lamont Securities Corp.
|
| Settlement date: | Dec. 16
|
| Stock symbol: | Nasdaq: NGBF
|
| Stock price: | $0.70 at close Dec. 16
|
| Market capitalization: | $20.4 million
|
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