Meridian Waste Solutions Inc., a vertically integrated, nonhazardous solid waste services company headquartered in Atlanta, has announced that it entered into securities purchase agreements with certain accredited investors in connection with a registered direct offering of an aggregate of approximately 1,868,000 shares of common stock, Series A Warrants to purchase 736,000 shares of common stock and Series B Warrants to purchase 664,000 shares of common stock, at an offering price of $1.03 per share and related warrants, for aggregate gross proceeds of approximately $1.925 million.
The Series A Warrants have an exercise price of $1.31, will be immediately exercisable and will expire five years after the date of issuance. The Series B Warrants have an exercise price of $1.31, will be exercisable six months after issuance, and will expire five years after issuance. The offering is expected to close on or about Dec. 1, 2017, subject to the satisfaction of customary closing conditions.
Garden State Securities Inc., Red Bank, New Jersey, is acting as exclusive placement agent, and Carter, Terry & Co., Atlanta, is acting as a selected dealer in connection with the offering.
Meridian says it currently intends to use the net proceeds of this offering for working capital and capital expenditures. Following recent transactions in the past weeks for the company’s Technology and Innovations Divisions, the proceeds will be used to integrate the businesses of Verifi Labs, Tulsa, Oklahoma; DxT Medical, Greenville, South Carolina; and American Science and Technology (AST), Wausau, Wisconsin, into the Meridian infrastructure, while further defining the divisions for growth into the future.
The shares of common stock and the shares issuable upon exercise of the Series A Warrants were offered pursuant to a shelf registration statement on Form S-3 (File No. 333-216621), which was declared effective by the U.S. Securities and Exchange Commission ("SEC") on June 19, 2017. The Series B Warrants were offered in a concurrent private placement and the Series B Warrants and underlying shares of common stock have not been registered under the Securities Act of 1933, as amended.
No more results found. The Series A Warrants have an exercise price of $1.31, will be immediately exercisable and will expire five years after the date of issuance. The Series B Warrants have an exercise price of $1.31, will be exercisable six months after issuance, and will expire five years after issuance. The offering is expected to close on or about Dec. 1, 2017, subject to the satisfaction of customary closing conditions.
Garden State Securities Inc., Red Bank, New Jersey, is acting as exclusive placement agent, and Carter, Terry & Co., Atlanta, is acting as a selected dealer in connection with the offering.
Meridian says it currently intends to use the net proceeds of this offering for working capital and capital expenditures. Following recent transactions in the past weeks for the company’s Technology and Innovations Divisions, the proceeds will be used to integrate the businesses of Verifi Labs, Tulsa, Oklahoma; DxT Medical, Greenville, South Carolina; and American Science and Technology (AST), Wausau, Wisconsin, into the Meridian infrastructure, while further defining the divisions for growth into the future.
The shares of common stock and the shares issuable upon exercise of the Series A Warrants were offered pursuant to a shelf registration statement on Form S-3 (File No. 333-216621), which was declared effective by the U.S. Securities and Exchange Commission ("SEC") on June 19, 2017. The Series B Warrants were offered in a concurrent private placement and the Series B Warrants and underlying shares of common stock have not been registered under the Securities Act of 1933, as amended.