By Sheri Kasprzak
New York, May 2 - Neah Power Systems, Inc. has concluded a $2.3 million private placement of its stock.
The company sold 4.6 million shares.
The proceeds will be used for corporate growth and working capital.
Following the placement, there are 103,062,441 outstanding Neah Power shares.
Seattle-based Neah develops methanol fuel cells using silicon-based technologies.
| Issuer: | Neah Power Systems, Inc.
|
| Issue: | Stock
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| Amount: | $2.3 million
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| Shares: | 4.6 million
|
| Price: | $0.50
|
| Warrants: | No
|
| Settlement date: | May 2
|
| Stock symbol: | Pink Sheets: NPWS
|
| Stock price: | $3.30 at close May 2
|
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