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Competitive Technologies Inc Enters Into Equity Purchase Agreement With Southridge Partners II


Monday, 25 Feb 2013 07:35pm EST 

Competitive Technologies Inc announced that it has entered into a two-year Equity Purchase Agreement for up to $10,000,000 of the Company's registered common shares with Southridge Partners II, L.P. (Southridge). Pursuant to the Agreement, the Company has the right, at its discretion, to sell to Southridge up to $10 million of its common stock from time to time over a 24-month period. The Company will have the right, but is not obligated, to sell stock to Southridge depending on certain conditions as set forth in the Agreement which has been filed with the Securities and Exchange Commission (SEC). Both parties have also entered into a Registration Rights Agreement under which, the Company agreed to file a registration statement with the SEC with respect to the Shares. The ability to draw down funds pursuant to the Equity Purchase Agreement is conditioned on an effective registration statement. 

Company Quote

0.3199
0.0399 +14.25%
11 Jul 2014