By Sheri Kasprzak
New York, Aug. 24 - TEG Environmental plc said it has received definitive agreements for its £3.33 million private placement of stock.
The company will issue 9 million shares at 37p each to institutional investors.
TEG said it also plans to close another offering, this one for £370,000 on Sept. 9.
Based in Lancashire, England, TEG Environmental provides products and services to the organic waste recycling sector.
| Issuer: | TEG Environmental plc
|
| Issue: | Stock
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| Amount: | £3.33 million
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| Shares: | 9 million
|
| Price: | 37p
|
| Warrants: | No
|
| Settlement date: | Aug. 24
|
| Stock price: | 55.5p at close Aug. 23
|
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