New Issue: ZAP intends to raise $11 million through common stock private placement

By Devika Patel

Knoxville, Tenn., July 15 - ZAP negotiated an $11 million private placement of stock with Cathaya Capital, LP on July 9, according to an 8-K filed Thursday with the Securities and Exchange Commission.

The company will sell 44 million shares to the investor at $0.25 apiece.

Based in Santa Rosa, Calif., ZAP develops environmentally friendly automotive and power systems.

Issuer:	ZAP
Issue:	Common stock
Amount:	$11 million
Shares:	44 million
Price:	$0.25
Warrants:	No
Investor:	Cathaya Capital, LP
Pricing date:	July 9
Stock symbol:	OTCBB: ZAAP
Stock price:	$0.53 at close July 9
Market capitalization:	$54.06 million

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