Company offers 6,663,070 restricted shares at $0.70 per share in deal
By Devika Patel
Knoxville, Tenn., Feb. 2 - Scio Diamond Technology Corp. settled a $4.66 million private placement of stock on Jan. 31, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company sold 6,663,070 restricted shares at $0.70 apiece. The per-share price represents an 82.05% discount to the Jan. 30 closing share price of $3.90.
The Greenville, S.C.-based company develops technology to create cultured diamonds.
| Issuer: | Scio Diamond Technology Corp.
|
| Issue: | Restricted stock
|
| Amount: | $4,664,149
|
| Shares: | 6,663,070
|
| Price: | $0.70
|
| Warrants: | No
|
| Settlement date: | Jan. 31
|
| Stock symbol: | OTCBB: SCIO
|
| Stock price: | $3.80 at close Jan. 31
|
| Market capitalization: | $80 million
|
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