By Sheri Kasprzak
New York, June 15 - NanoSensors, Inc. has completed the second tranche of its previously announced private placement for proceeds of $418,000, bringing the total proceeds raised so far to $818,000 and has increased the size of the deal to $1.75 million.
In the second tranche, the company sold 3.344 units at $125,000 each.
The units are comprised of 16 million shares and warrants for 16 million shares. The warrants are exercisable at $0.04 each for five years.
The first tranche, for $400,000, was closed on May 30.
Proceeds will be used for working capital.
The company intends to sell a total of 14 units.
Located in Santa Clara, Calif., NanoSensors develops sensors used to detect chemicals and explosive agents.
| Issuer: | NanoSensors, Inc.
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| Issue: | Units of 16 million shares and warrants for 16 million shares
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| Amount: | $418,000
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| Units: | 3.344
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| Price: | $125,000
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| Warrants: | For 16 million shares per unit
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| Warrant expiration: | Five years
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| Warrant strike price: | $0.04
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| Settlement date: | June 15
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| Stock symbol: | OTCBB: NNSR
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| Stock price: | $0.0761 at close June 15
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