BioSolar Announces $5.0 Million Private Placement Offering

Jan 25, 2021

SANTA CLARITA, Calif., Jan. 24, 2021 (GLOBE NEWSWIRE) -- BioSolar, Inc. (OTC: BSRC), a developer of energy technologies, today announced that it has entered into a securities purchase agreement with a single institutional investor to purchase in a private placement offering 83,333,334 shares of common stock (or common stock equivalents in lieu thereof) and warrants to purchase up to an aggregate of 83,333,334 shares of common stock. The combined purchase price for one share of common stock (common stock equivalent) and a warrant to purchase one share of common stock is $0.06. The warrants have an exercise price of $0.06 per share, will be immediately exercisable and will expire five and one-half years from the issue date.

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