Boustead Securities, LLC (“Boustead”) client Nano-C, Inc. (“Nano-C” or the “Company”), a leading producer of patented nanostructured carbon, including fullerenes, single-walled nanotubes (SWCNT), and their chemical derivatives, announced an initial closing of $1,000,000 in Convertible Note proceeds to 11 accredited investors.
The private placement consisted of Convertible Notes that bear annual interest of 12% and mature on August 31, 2021. The Notes were priced at a 30% discount to Series B pricing of $0.23 per share and include Warrants that were granted on a 1 to 1 basis (i.e., the number of Warrant shares will be equal to the number of Common Shares on an as converted basis). The Warrant exercise price per share is $0.23 and the Warrants expire March 31, 2025.
The Company may continue offering additional Convertible Notes and Warrants on substantially the same terms until August 31, 2020 (unless extended at the discretion of the Company) or until the Company has raised a maximum of $4 million (unless increased at the discretion of the Company) in gross proceeds (or such other amount determined by the Company in its discretion).
Nano-C is focused on fundamental technology trends: the roll-out of 5G, connectivity driven by the Internet of Things, the race to extend Moore’s Law, and the move to address climate change through sustainable energy generation. Proprietary materials produced by Nano-C are critical links in the value chain for next-generation electronics, sensors and semiconductor manufacturing. Nano-C’s advanced materials platform encompasses a portfolio of unique solutions protected by over 150 global patents across 46 patent families. Nano-C, Inc. manufactures materials that power innovation and plans to initially enter the high sensitivity sensor and EUV semiconductor manufacturing markets for next generation smartphones. Each of these markets has large patent ranges and potentially translate into significant market opportunities.
For more information please contact: Pete Conley, Head of Intellectual Property (IP) Banking Phone: 310-383-7874 Pete@boustead1828.com
This press release is not a solicitation or offer to buy or sell securities. For illustrative purposes only. Investments may be speculative, illiquid and carry a risk of loss. Past performance is not indicative of future results. There is no guarantee that any specific outcome will be achieved.
About Nano-C, Inc. Nano-C is a leading innovator and manufacturer in the chemistry of nanostructured carbon, including fullerenes, carbon nanotubes (CNT), and their chemical derivatives. These materials are critical elements in emerging high-value applications in the electronics and energy markets. Through its patented products and processes, and its distinct competencies in the chemistry of these materials, Nano-C is enabling a revolution in device design, manufacture and performance, and it is committed to their responsible development and use. For more information, please visit our website at www.nano-c.com About Boustead Securities, LLC Boustead Securities, LLC (“Boustead”) is an investment banking firm that executes and advises on IPOs, mergers and acquisitions, capital raises and restructuring assignments in a wide array of industries, geographies and transactions, for a broad client base. Boustead’s core value proposition is the ability to create opportunity through innovative solutions and tenacious execution. With experienced professionals in the United States, Boustead’s team moves quickly and provides a broad spectrum of sophisticated financial advice and services. Boustead is a majority owned subsidiary of Boustead & Company Limited, a diversified non-bank financial institution. For more information, please visit www.boustead1828.com. About Sutter Securities Group, Inc. Headquartered in Irvine, California, Sutter Securities Group, Inc. (“SSG”), founded in 2013, through its affiliates, is an innovator and investment banking solutions provider. SSG owns and operates Sutter Securities Clearing, LLC, and Sutter Securities Incorporated, FINRA member broker-dealers; Sutter Shareholder Services, LLC, a SEC-registered transfer agent; FlashFunders Funding Portal, LLC, a FINRA member funding portal; and Sutter Capital Management, Inc. Sutter Securities Group, through its affiliates, operates a U.S.-based online securities platform whose underlying technology and regulatory infrastructure are designed to enable issuers to engage in Regulation D, Regulation A (known as Reg A+), Regulation S, Regulation CF and fully registered S-1 and F-1 Initial Public Offerings in compliance with applicable federal, state and non-U.S. securities laws. SSG is a majority owned subsidiary of Boustead & Company Limited, a diversified non-bank financial institution. Additional information is available at www.flashfunders.com. Forward-Looking Statements This announcement contains forward-looking statements. Forward-looking statements provide our current expectations or forecasts of future events. Forward-looking statements include statements about our expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts. Words or phrases such as “anticipate,” “believe,” “continue,” “estimate,” “expect,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “will” or similar words or phrases, or the negatives of those words or phrases, may identify forward-looking statements, but the absence of these words does not necessarily mean that a statement is not forward-looking. Examples of forward-looking statements in this announcement include, but are not limited to, statements regarding our disclosure concerning the Company’s operations, cash flows, financial position and dividend policy.
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