By Laura Lutz
Des Moines, Feb. 1 - Versadial, Inc. raised $2.8 million from the first tranche of a $5.5 million private placement of units, according to an 8-K filing with the Securities and Exchange Commission.
The company sold 1.75 million units at $1.60 apiece. Each unit consists of one share and 0.2 five-year warrants. Each whole warrant will be exercisable at $2.00 per share for five years.
Fursa Master Global Event Driven Fund, LP bought 1.25 million units in the first tranche and committed to buy 1.25 million units in a future tranche.
New York-based Versadial manufactures a dispenser that blends liquids for industrial purposes.
| Issuer: | Versadial, Inc.
|
| Issue: | Units of one share and 0.2 warrants
|
| Amount: | $5.5 million
|
| Units: | 3,437,500
|
| Price: | $1.60
|
| Warrants: | For 0.2 shares per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $2.00
|
| Investor: | Fursa Master Global Event Driven Fund, LP (for 2.5 million units)
|
| Settlement date: | Jan. 28
|
| Stock symbol: | OTCBB: VSDL
|
| Stock price: | $1.05 at close Jan. 28
|
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