EarthShell® Corporation, innovators of foodservice packaging designed with the environment in mind, announced yesterday [Monday] that it has raised over US$4m in a financing transaction with a select group of investors.
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Under the purchase agreement, EarthShell issued an aggregate of 3.5 million shares of common stock under the company’s shelf registration statement. In addition, the company issued warrants to the same group of investors to purchase an additional 1.75 million shares, exercisable over a 30-day period following the initial sale.
The company’s shelf registration statement, as amended, (Registration Number 333-76092) was declared effective by the Securities and Exchange Commission (SEC) on 7 January 2002.
