WOODBURY, N.Y., Sept. 27, 2010 (GLOBE NEWSWIRE) -- A group of accredited investors has invested $825,000 in new capital in addition to the $2.5 million in expansion capital raised by Research Frontiers Inc. (Nasdaq:REFR) earlier this month. Research Frontiers is the developer and licensor of patented SPD-Smart™ light-control film technology. The investors received 194,118 shares of Research Frontiers common stock at a price of $4.25 per share, which was the average market price of Research Frontiers stock on September 23, 2010, the day the transaction was priced. In addition, the investors in this stock offering received 38,824 five-year warrants to purchase Research Frontiers common stock at a price of $6.25 per share. These securities were sold pursuant to Research Frontiers' effective shelf-registration statement filed with the SEC.
Smart Glass Company Research Frontiers Raises $825,000 In New Capital In Addition To $2.5 Million In New Capital Raised Earlier This Month For Expansion
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