Loading...
Loading...
Research Frontiers
Incorporated
REFR today announced that it has entered into an
agreement to sell 1,250,000 shares of its common stock, and warrants to
purchase 250,000 shares of its common stock, to an institutional investor.
Each share and corresponding warrant will be sold at an aggregate price of
$4.49, resulting in gross proceeds of approximately $5,612,500. The warrants
are exercisable for a period of five years beginning on the six-month
anniversary of the closing date at an exercise price of $6.73 per share
(approximately 150% of the aggregate offering price).
The Company intends to use the net proceeds from this offering for working
capital and general corporate purposes. The offering is expected to close on
or before October 8, 2012, subject to the satisfaction of customary closing
conditions.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in