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Visualant registers $10 million of common stock for public units sale
Bookrunner Maxim and co-manager Benchmark help fund corporate purposes
By Devika Patel
Knoxville, Tenn., April 27 – Visualant, Inc. will price a public offering of units with a 45-day greenshoe, according to a Form S-1 filed Monday with the Securities and Exchange Commission. The company has registered up to $10 million of stock.
The units each consist of one common share and one warrant.
Maxim Group LLC is the bookrunning manager, and Benchmark Co., LLC is the co-manager.
Proceeds will be used for general corporate purposes, including technology development, investments in the TransTech business, repayment of about $828,000 of loans and advances to Ronald P. Erickson and repayment of a $200,000 business loan from a commercial bank.
Seattle-based Visualant develops light-based security and authentication systems technology.
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