Common shares sold at $1.12 per share to finance capital expenditures
By Devika Patel
Knoxville, Tenn., April 12 – Meridian Waste Solutions, Inc. settled a $1.6 million fully subscribed private placement of stock with a $400,000 third tranche on April 8, according to an 8-K filed Monday with the Securities and Exchange Commission. The deal raised $500,000 on March 23 and $700,000 on April 1.
The company sold 1,428,573 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, 625,001 shares in the second and 357,143 shares in the third tranche.
Garden State Securities, Inc. was the agent.
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
|
| Shares: | 1,428,573
|
| Price: | $1.12
|
| Warrants: | No
|
| Agent: | Garden State Securities, Inc.
|
| Pricing date: | March 23
|
| Settlement dates: | March 23 (for $500,000), April 1 (for $700,000), April 8 (for $400,000)
|
| Stock symbol: | OTCBB: MRDN
|
| Stock price: | $1.50 at close March 22
|
| Market capitalization: | $38.38 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
