Chromadex Receives $750K For Neutrisci Shares
- On November 26, 2014, ChromaDex Corporation, a Delaware corporation (the “Company”), pursuant to a Transfer and Notice of Conversion, assigned 108,676 of its 670,658 series I preferred shares (the “Preferred Shares”) of NutriSci International, Inc. (“NS”) to Alpha Capital Anstalt and 10,868 Preferred Shares to Palladium Capital Advisors, LLC. The Transfer and Notice of Conversion amended that certain Assignment and Escrow Agreement by and among the Company, Alpha Capital Anstalt NS, Britlor Health and Wellness, Inc. and Grushko & Mittman, P.C., effective as of December 27, 2013, to allow for such assignments. Also on November 26, 2014, the Company converted its remaining 551,114 Preferred Shares into 2,204,456 Class A common shares of NS (the “Common Shares”) and sold the 2,204,456 Common Shares to Emprise Capital Corporation for a purchase price of $749,514.80 pursuant to the terms of a Share Transfer Agreement.
- The assignments and sale described above occurred immediately prior to the consummation of an agreement between NS and Disani Capital Corp. (“Disani”) pursuant to which Disani acquired NS (the “Amalgamation”). Upon the closing of the Amalgamation, Alpha Capital Anstalt, Palladium Capital Advisors, LLC and Emprise Capital Corporation, as the new holders of NS securities, were entitled to receive an aggregate of 4,560,474 units of Disani securities.
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