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Financings in Brief: Avitar

This article was originally published in The Gray Sheet

Executive Summary

Avitar: Registration statement filed with the Securities and Exchange Commission for the offering of 13 mil. shares (including 12.7 mil. by the company and 361,000 by selling shareholders) has been declared effective, the firm states. The shares offered by the company would be issued if "redeemable warrants and certain other warrants were exercised." If all warrants were exercised, the aggregate exercise price would be about $21.6 mil. the firm states. "Proceeds, if any, will be used to continue to expand the business" and for "general working capital purposes," Avitar says...

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