Three-year agreement was negotiated with investor Dutchess Opportunity
By Devika Patel
Knoxville, Tenn., July 2 - Attune RTD negotiated a $5 million investment agreement with Dutchess Opportunity Fund, II, LP on June 26, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
Dutchess will buy common shares over three years in tranches of up to the greater of 200% of the average daily volume of the stock for the three trading days preceding the draw down notice, multiplied by the average of the three daily closing prices preceding the draw down notice or $100,000.
The purchase price is set at 95% of the lowest daily volume-weighted average price of the stock during the five consecutive trading day period following the draw down notice.
Based in Palm Springs, Calif., Attune designs and produces energy conservation products for swimming pools.
| Issuer: | Attune RTD
|
| Issue: | Investment agreement
|
| Amount: | $5 million
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| Tenor: | Three years
|
| Price: | 5% discount
|
| Warrants: | No
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| Investor: | Dutchess Opportunity Fund, II, LP
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| Pricing date: | June 26
|
| Stock symbol: | OTCBB: AURT
|
| Stock price: | $0.02 at close June 25
|
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