Common shares sold to two investors at $1.12 per share through deal
By Devika Patel
Knoxville, Tenn., March 29 – Meridian Waste Solutions, Inc. completed a $500,000 initial tranche of a $1.6 million private placement of stock with two investors on March 23, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The company is selling common shares at $1.12 per share. The price per share is a 25.33% discount to $1.50, the March 22 closing share price. Meridian sold 446,429 shares in the first tranche.
Proceeds will be used for capital expenditures.
The residential and commercial waste hauling company is based in Milton, Ga.
| Issuer: | Meridian Waste Solutions, Inc.
|
| Issue: | Common stock
|
| Amount: | $1.6 million
|
| Price: | $1.12
|
| Warrants: | No
|
| Investor: | Beijing Xinhua Huifeng Equity Investment Center
|
| Pricing date: | March 23
|
| Announcement date: | March 29
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| Settlement date: | March 23 (for $500,000)
|
| Stock symbol: | OTCBB: MRDN
|
| Stock price: | $1.50 at close March 22
|
| Market capitalization: | $31.31 million
|
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