Published on 9/9/2005 in the Prospect News PIPE Daily.
New Issue: NewGen closes $1.12 million private placement of shares
By Sheri Kasprzak
New York, Sept. 9 - NewGen Technologies Inc. said it has wrapped a private placement for $1,119,000.
The company sold 2,238,000 shares at $0.50 each to accredited investors.
A total of 1,094,000 of the shares were issued to forgive $547,000 in debt obligations.
Based in Charlotte, N.C., NewGen makes engines that produce cleaner emissions.
Issuer: | NewGen Technologies Inc.
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Issue: | Stock
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Amount: | $1,119,000
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Shares: | 2,238,000
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Price: | $0.50
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Warrants: | No
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Settlement date: | Sept. 2
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Stock price: | $3.40 at close Sept. 2
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