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The company has priced its offering of 15 million units at $1.06 per unit. Each unit consists of one share of common stock, and one newly created Class H warrant, with each Class H warrant exercisable for one share of common stock at an exercise price of $1.30 per share. The warrants will expire on October 14, 2014.
Converted Organics has also granted the underwriters a 45-day option to purchase up to 2.25 million additional units to cover over-allotments.
Chardan Capital Markets, LLC and Paulson Investment Company, Inc. are acting as underwriters to the offering.
The offering is expected to close on or about October 20, 2009.
Deal Value (US$ Million) 15.9 Deal Type IPO Sub-Category Pricing Deal Status Announced: 2009-10-15
Deal Participants
Target (Company) Converted Organics, Inc.
Offer Price ($ per share) 1.06 No. Shares Issued 15000000
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