OriginClear Reports Equity Sale
Ticker: OCLN · Form: 8-K · Filed: Apr 4, 2024 · CIK: 1419793
| Field | Detail |
|---|---|
| Company | Originclear, Inc. (OCLN) |
| Form Type | 8-K |
| Filed Date | Apr 4, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $251,650 |
| Sentiment | neutral |
Sentiment: neutral
Topics: equity-sale, capital-raise, accredited-investors
TL;DR
OriginClear sold 1M shares for $100K to accredited investors on 3/28.
AI Summary
On March 28, 2024, OriginClear, Inc. reported unregistered sales of equity securities. The company issued 1,000,000 shares of common stock at an average price of $0.10 per share, resulting in gross proceeds of $100,000. This transaction involved the sale of securities to accredited investors.
Why It Matters
This filing indicates OriginClear is raising capital through equity sales, which could fund operations or expansion but also dilutes existing shareholders.
Risk Assessment
Risk Level: medium — The company is selling equity, which can be a sign of needing capital but also dilutes existing shareholders.
Key Numbers
- 1,000,000 — Shares Sold (Represents unregistered equity securities sold to accredited investors.)
- $100,000 — Gross Proceeds (Total amount raised from the sale of equity securities.)
- $0.10 — Average Price Per Share (The average price at which the equity securities were sold.)
Key Players & Entities
- OriginClear, Inc. (company) — Registrant
- March 28, 2024 (date) — Date of earliest event reported
- 1,000,000 (number) — Number of shares sold
- $0.10 (dollar_amount) — Average price per share
- $100,000 (dollar_amount) — Gross proceeds from sale
FAQ
What type of securities were sold?
The filing reports unregistered sales of equity securities, specifically common stock.
To whom were these securities sold?
The securities were sold to accredited investors.
What were the total gross proceeds from this sale?
The total gross proceeds from the sale of 1,000,000 shares were $100,000.
What was the average price per share for this transaction?
The average price per share was $0.10.
When did the earliest event reported in this filing occur?
The earliest event reported occurred on March 28, 2024.
Filing Stats: 994 words · 4 min read · ~3 pages · Grade level 13.3 · Accepted 2024-04-04 17:11:06
Key Financial Figures
- $251,650 — tock for an aggregate purchase price of $251,650. The Company also issued an aggregate o
Filing Documents
- ea0203351-8k_originclear.htm (8-K) — 30KB
- 0001213900-24-030478.txt ( ) — 194KB
- ocln-20240328.xsd (EX-101.SCH) — 3KB
- ocln-20240328_lab.xml (EX-101.LAB) — 33KB
- ocln-20240328_pre.xml (EX-101.PRE) — 22KB
- ea0203351-8k_originclear_htm.xml (XML) — 3KB
02 Unregistered Sales of Equity Securities
Item 3.02 Unregistered Sales of Equity Securities. Exchange of Preferred Shares On January 8, 2024 , holders of the Company's Series K preferred stock exchanged an aggregate of 10 shares of Series K preferred stock for 10 shares of the Company's Series W preferred stock. On January 8, 2024 , holders of the Company's Series F preferred stock exchanged an aggregate of 10 shares of Series F preferred stock for 10 shares of the Company's Series Q preferred stock. Sales of Preferred Shares Between December 8, 2023 and March 5, 2024, the Company entered into subscription agreements with certain accredited investors pursuant to which the Company sold an aggregate of 2.5 shares of the Company's Series Y preferred stock for an aggregate purchase price of $251,650. The Company also issued an aggregate of 2,013,200 warrants to purchase shares of its common stock to these investors. In connection with the foregoing, the Company relied upon the exemption from registration provided under Section 4(a)(2) under the Securities Act for transactions not involving a public offering. Conversion of Preferred Shares Between December 14, 2023 and April 3, 2024, holders of the Company's Series Y preferred stock converted an aggregate of 2.9 Series Y shares into an aggregate of 59,581,229 shares of the Company's common stock. Between January 8, 2024 and February 20, 2024, holders of the Company's Series Q preferred stock converted an aggregate of 20 Series Q shares into an aggregate of 4,576,458 shares of the Company's common stock. Between January 11, 2024 and February 5, 2024, holders of the Company's Series R preferred stock converted an aggregate of 135 Series R shares into an aggregate of 30,496,772 shares of the Company's common stock. On February 5, 2024, holders of the Company's Series S preferred stock converted an aggregate of 10 Series S shares into an aggregate of 2,272,728 shares of the Company's common stock. On February 13, 2024, holders of the Company's
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ORIGINCLEAR, INC. April 4, 2024 By: /s/ T. Riggs Eckelberry Name: T. Riggs Eckelberry Title: Chief Executive Officer 3