By Devika Patel
Knoxville, Tenn., Feb. 15 - Telkonet, Inc. has completed a $1.5 million private placement of stock, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold 2.5 million common shares at $0.60 per share on Feb. 8.
Proceeds will be used to repay the senior promissory note issued to GRQ Consultants, Inc. that became due on Jan. 28.
Telkonet develops products for use in powerline communications and is based in Germantown, Md.
| Issuer: | Telkonet, Inc.
|
| Issue: | Common shares
|
| Amount: | $1.5 million
|
| Shares: | 2.5 million
|
| Price: | $0.60
|
| Warrants: | No
|
| Settlement date: | Feb. 8
|
| Stock symbol: | Amex: TKO
|
| Stock price: | $0.93 at close Feb. 8
|
© 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.
