By Laura Lutz
Des Moines, Dec. 29 - Tissera, Inc. arranged a private placement of shares for $1.65 million, according to an 8-K filing with the Securities and Exchange Commission.
The company sold 16.5 million common shares at $0.10 each. For each two shares, investors will receive one series E common stock purchase warrant and one series F common stock purchase warrant.
The series E warrants are exercisable at $0.165 each, and the series F warrants are exercisable at $0.1815 each. Both series of warrants have a term of five years and become exercisable six months after settlement.
Proceeds will be used for research and development and for working capital.
Tissera is a tissue transportation company based in Herzlia, Israel.
| Issuer: | Tissera, Inc.
|
| Issue: | Common shares
|
| Amount: | $1.65 million
|
| Shares: | 16.5 million
|
| Price: | $0.10
|
| Warrants: | 8.25 million series E warrants, 8.25 million series F warrants
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.165 for series E; $0.1815 for series F
|
| Settlement date: | Dec. 28
|
| Stock symbol: | OTCBB: TSSR
|
| Stock price: | $0.156 at close Dec. 28
|
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