Company sells units of shares, two-year warrants at $0.25 per unit
By Devika Patel
Knoxville, Tenn., March 19 - Guitammer Co. completed a $250,000 private placement of units on March 15, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The company sold 1 million units of one common share and one warrant at $0.25 per unit.
Each warrant is exercisable at $0.36 for two years. The strike price represents a 140% premium to $0.15, the March 14 closing share price.
Westerville, Ohio-based Guitammer makes and sells low-frequency audio transducers.
| Issuer: | Guitammer Co.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $250,000
|
| Units: | 1 million
|
| Price: | $0.25
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $0.36
|
| Settlement date: | March 15
|
| Stock symbol: | OTCBB: GTMM
|
| Stock price: | $0.15 at close March 14
|
| Market capitalization: | $13.1 million
|
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