Company sells 6.5 million common shares at $0.40 per share in offering
By Devika Patel
Knoxville, Tenn., June 9 – ADB International Group, Inc. settled a $2.6 million private placement of stock between February and May, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 6.5 million restricted common shares at $0.40 apiece.
The San Antonio holding company makes acquisitions and investments in green energy, water treatment technologies and other emerging markets.
| Issuer: | ADB International Group, Inc.
|
| Issue: | Restricted common stock
|
| Amount: | $2.6 million
|
| Shares: | 6.5 million
|
| Price: | $0.40
|
| Warrants: | No
|
| Announcement date: | June 9
|
| Stock symbol: | OTCBB: ADBI
|
| Stock price: | $0.03 at close June 6
|
| Market capitalization: | $6.83 million
|
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