By Sheri Kasprzak
Atlanta, Feb. 14 - Research Frontiers Inc. said it has closed a $5 million direct placement of stock.
The company sold 1 million units at $5 each. The units include one share and one-fifth of a share warrant.
The whole warrants, equal to 200,000 shares, allow for an additional share at $7.50 each for five years.
The shares included in the private placement were sold under Research Frontier's shelf registration.
Based in Woodbury, N.Y., Research Frontiers manufactures a suspended-particle device that controls the flow of light.
| Issuer: | Research Frontiers Inc.
|
| Issue: | Units of one share and one-fifth share warrant
|
| Amount: | $5 million
|
| Units: | 1 million
|
| Price: | $5
|
| Warrants: | One-fifth share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $7.50
|
| Settlement date: | Feb. 14 |
|
| Stock price: | $5.95 at close Feb. 11
|
|
|
© 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.
