6% series B convertible preferreds may be redeemed by company at 130
By Devika Patel
Knoxville, Tenn., Aug. 7 – Neah Power Systems, Inc. settled a $75,300 private placement of series B preferred stock between June 19 and July 30, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company will sell the 6% preferreds at $1.00 apiece. Each preferred may be converted to common shares or redeemed at 130.
Bothell, Wash.-based Neah Power develops methanol fuel cells using silicon-based technologies.
| Issuer: | Neah Power Systems, Inc.
|
| Issue: | Series B preferred stock
|
| Amount: | $75,300
|
| Price: | $1.00
|
| Dividends: | 6%
|
| Call: | At 130
|
| Warrants: | No
|
| Pricing date: | Between June 19 and July 30
|
| Stock symbol: | OTCBB: NPWZ
|
| Stock price: | $0.01 at close June 18
|
| Market capitalization: | $4.5 million
|
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