Company heralds registered sale of stock, warrants at $5.00 per share
By Devika Patel
Knoxville, Tenn., Dec. 1 - Research Frontiers Inc. will conduct a $1.48 million registered direct offering of stock, according to a prospectus supplement filed Wednesday with the Securities and Exchange Commission.
The company will sell 295,000 common shares. The purchase price, of $5.00 per share, reflects a 1.58% discount to the $5.08 closing share price on Nov. 30.
Investors also will receive warrants for 59,000 shares, each exercisable at $6.75 until Nov. 30, 2015. The strike price reflects a premium of 32.87% to the Nov. 30 closing share price.
Settlement is expected Dec. 2.
Proceeds will be used for operations, including research and development and marketing.
Located in Woodbury, N.Y., Research Frontiers develops light-control coatings for glass and plastics.
| Issuer: | Research Frontiers Inc.
|
| Issue: | Common stock
|
| Amount: | $1,475,000
|
| Shares: | 295,000
|
| Price: | $5.00
|
| Warrants: | For 59,000 shares
|
| Warrant expiration: | Nov. 30, 2015
|
| Warrant strike price: | $6.75
|
| Pricing date: | Dec. 1
|
| Settlement date: | Dec. 2
|
| Stock symbol: | Nasdaq: REFR
|
| Stock price: | $5.08 at close Sept. 16
|
| Market capitalization: | $89.93 million
|
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