By Devika Patel
Knoxville, Tenn., July 28 - New Generation Biofuels Holdings, Inc. said it settled a $3.2 million registered direct offering of stock. The deal priced for $3.44 million on Thursday.
The company sold 3,044,381 common shares at $1.05 per share.
The investors also received warrants for 608,876 shares. The warrants are exercisable at $1.60 for five years.
Capstone Investments 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: | $3,196,600
|
| Shares: | 3,044,381
|
| Price: | $1.05
|
| Warrants: | For 608,876 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $1.60
|
| Agent: | Capstone Investments
|
| Pricing date: | July 23
|
| Settlement date: | July 28
|
| Stock symbol: | Nasdaq: NGBF
|
| Stock price: | $1.28 at close July 22
|
| Market capitalization: | $24.6 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
