By Sheri Kasprzak
New York, April 4 - Coda Octopus Group, Inc. intends to close a $13.255 million private placement of units.
The company agreed to sell 13.255 million units to a group of institutional and individual investors.
The units consist of one share and two warrants each for one half of a share. The whole of one of the warrants is exercisable at $1.30 per share and the whole of the other at $1.70 per share.
T.R. Winston & Co. is the placement agent.
Proceeds will be used for working capital and for the redemption of 18,181 units of Vision Capital's series B preferred stock for $110 each.
Based in New York, Coda Octopus is an underwater port security technology developer.
| Issuer: | Coda Octopus Group, Inc.
|
| Issue: | Units of one share and two one-half share warrants
|
| Amount: | $13.255 million
|
| Units: | 13.255 million
|
| Price: | $1.00
|
| Warrants: | Two half-share warrants per unit
|
| Warrant strike price: | $1.30 for one warrant, $1.70 for one warrant
|
| Placement agent: | T.R. Winston & Co.
|
| Announcement date: | April 4
|
| Stock symbol: | Pink Sheets: CDOC
|
| Stock price: | $1.18 at close April 3
|
© 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.
