Organic To Go closes $10 million placement

Organic To Go closes $10 million placement
Tags: Operations Management
February 19, 2008

SEATTLE — Organic To Go has announced that it has signed a definitive agreement to close a $10 million equity private placement made by Inventages Venture Capital Investment Inc., a life-sciences, nutrition and wellness focused venture capital funds with $1.5 billion under management.

The financing consisted of the sale of 7,142,857 shares of common stock at $1.40 per share, an unconditional five-year warrant to purchase 4,285,715 shares of common stock at an exercise price of $2.50 and a conditional warrant to purchase a certain number of shares of common stock only upon the occurrence of specified conditions.