By Devika Patel
Knoxville, Tenn., July 28 – SolarWindow Technologies, Inc. completed a $690,000 private placement of units with Kalen Capital Corp. on July 28, according to an 8-K filing with the Securities and Exchange Commission. The deal priced on July 24.
The company sold 300,000 units of one common share and one warrant at $2.30 per unit.
Each warrant is exercisable at $2.53 for five years. The strike price is a 6.30% discount to the July 21 closing share price of $2.70.
Proceeds will be used for development and commercialization efforts for the SolarWindow technology and for general corporate purposes.
The Columbia, Md., company develops solar electricity-generating window coatings.
| Issuer: | SolarWindow Technologies, Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $690,000
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| Units: | 300,000
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| Price: | $2.30
|
| Warrants: | One warrant per unit
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| Warrant expiration: | Five years
|
| Warrant strike price: | $2.53
|
| Investor: | Kalen Capital Corp.
|
| Pricing date: | July 24
|
| Settlement date: | July 28
|
| Stock symbol: | OTCBB: WNDW
|
| Stock price: | $2.70 at close on July 21
|
| Market capitalization: | $111.28 million
|
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