By Devika Patel
Knoxville, Tenn., Aug. 3 - Research Frontiers Inc. priced a $2.85 million registered direct placement of stock on July 28, according to a prospectus supplement filed Monday with the Securities and Exchange Commission.
The company is selling 780,831 common shares at $3.65 each, along with warrants for 156,161 shares.
The warrants are exercisable at $6.00 until July 31, 2014.
Proceeds will be used to expand the company's operations, including increased marketing of the company's light-control film technology, and 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: | Common stock
|
| Amount: | $2.85 million
|
| Shares: | 780,831
|
| Price: | $3.65
|
| Warrants: | For 156,161 shares
|
| Warrant expiration: | July 31, 2014
|
| Warrant strike price: | $6.00
|
| Pricing date: | July 28
|
| Stock symbol: | Nasdaq: REFR
|
| Stock price: | $3.65 at close July 28
|
| Market capitalization: | $61.4 million
|
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