Below market value significantly
Alkaline Water Company Announces a $1.825 Million Registered Public Offering With Institutional Investors
Alkaline Water Company Announces a $1.825 Million Registered Public Offering With Institutional Investors
SCOTTSDALE, AZ--(Marketwired - Apr 29, 2014) - The Alkaline Water Company Inc. (OTCBB: WTER) ("Alkaline Water" or the "Company"), which has developed an innovative state of the art proprietary electrolysis beverage process which is packaged and sold in 3 liter and 1 gallon sizes under the trade name Alkaline88, is pleased to announce that it has received commitments from institutional investors to purchase an aggregate of $1,825,000 of the Company's common stock in a registered public offering at a price of $0.15 per share. In addition, the Company will issue to the investors immediately exercisable warrants to purchase up to an aggregate of approximately 6.08 million shares of common stock, which warrants shall have a term of 5 years and an exercise price of $0.15. The offering is expected to close on or about May 1, 2014, subject to satisfaction of customary closing conditions.
Alkaline Water plans to use the net proceeds from this financing for capital investments, the redemption of certain outstanding securities, and general working capital.
H.C. Wainwright & Co., LLC acted as the exclusive placement agent in connection with the offering.
The securities described above are being offered by Alkaline Water pursuant to a registration statement (File No. 333-192599), which was declared effective by the United States Securities and Exchange Commission, or the SEC, on April 16, 2014. A prospectus supplement related to the offering will be filed with the SEC. The securities may only be offered by means of a prospectus. Copies of the prospectus and prospectus supplement can be obtained directly from Alkaline Water and at the SEC's website at www.sec.gov or by request at H.C. Wainwright & Co., LLC by e-mailing placements@hcwco.com.
This announcement is neither an offer to sell nor a solicitation of an offer to buy any of Alkaline Water's common stock or warrants. No offer, solicitation or sale will be made in any jurisdiction in which such offer, solicitation or sale is unlawful.
Additional details of the Company's business, finances, appointments and agreements can be found as part of the Company's continuous public disclosure as a reporting issuer with the Securities and Exchange Commission ("SEC") available at www.sec.gov. For more information, visit our website at www.thealkalinewaterco.com.
