By Sheri Kasprzak
New York, Feb. 14 - Research Frontiers Inc. settled a registered direct placement of stock for $6,650,494.
The company sold 682,102 shares at $9.75 each.
The shares were sold off the company's registration statement.
Proceeds will be used to expand the company's operations, including increased marketing of the company's light-control film technology. The rest will be used for working capital and general corporate purposes.
Located in Woodbury, N.Y., Research Frontiers develops light-control coatings for glass and plastics.
| Issuer: | Research Frontiers Inc.
|
| Issue: | Stock
|
| Amount: | $6,650,494
|
| Shares: | 682,102
|
| Price: | $9.75
|
| Warrants: | No
|
| Settlement date: | Feb. 14
|
| Stock symbol: | Nasdaq: REFR
|
| Stock price: | $11.10 at close Feb. 13
|
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