Deal sells 2,068,965 common shares to fund general corporate purposes
By Devika Patel
Knoxville, Tenn., Aug. 10 – ADM Tronics Unlimited Inc. said it settled a $300,000 private placement of stock with Advanced Plasma Therapies Inc.
The company sold 2,068,965 common shares at $0.145 apiece. The price per share is a 14.71% discount to the Aug. 7 closing share price of $0.17.
Proceeds will be used for general corporate purposes.
ADM, based in Northvale, N.J., develops therapeutic medical plasma technologies.
| Issuer: | ADM Tronics Unlimited Inc.
|
| Issue: | Common shares
|
| Amount: | $300,000
|
| Shares: | 2,068,965
|
| Price: | $0.145
|
| Warrants: | No
|
| Investor: | Advanced Plasma Therapies Inc.
|
| Settlement date: | Aug. 10
|
| Stock symbol: | OTCBB: ADMT
|
| Stock price: | $0.17 at close Aug. 7
|
| Market capitalization: | $10.81 million
|
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