What are AgFeeds recent financing activities?
During first quarter of 2008, we completed a $41,000,000 financing. We received aggregate gross proceeds of $22,000,032 through the sale of 2,444,448 shares of common stock at $9 per share. We received aggregate proceeds of $19,000,000 through the issuance of three year convertible notes bearing interest at 7% per annum and convertible into common stock at $10 per share. In connection with the convertible notes, we issued 380,000 warrants which are exercisable immediately and have a $10 strike price. We paid $3,432,670 related to the sale of shares and $1,716,666 related to the issuance of the convertible notes.
