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APDN > SEC Filings for APDN > Form 8-K on 15-Aug-2013All Recent SEC Filings

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Form 8-K for APPLIED DNA SCIENCES INC


15-Aug-2013

Other Events


Item 8.01. Other Events.

On August 14, 2013, Applied DNA Sciences, Inc. (the "Company") exercised its option to repurchase the Series C Warrants issued to Crede CG III, Ltd. ("Crede") for $10,000. The Series C Warrants held by Crede were to initially purchase 26,737,967 shares of the Company's Common Stock, $.001 par value ("Common Stock"), at an initial exercise price per share of $.2431. The Series C Warrants were issued to Crede in connection with its $7.5 million investment in the Company pursuant to a Securities Purchase Agreement with the Company dated July 19, 2013, as previously disclosed on the Current Report on Form 8-K filed by the Company on July 22, 2013.

In addition, on August 14, 2013, the Company exercised its option and converted the Series B Convertible Preferred Stock ("Series B Preferred"), held by Crede into 42,307,692 shares of the Company's Common Stock at a conversion price of $0.13 per share. On July 31, 2013, the second closing of our transaction with Crede occurred at which Crede purchased 5,500 shares of Series B Preferred at a price of $1,000 per share with gross proceeds received by us of $5,500,000, as previously disclosed on the Current Report on Form 8-K filed by the Company on August 1, 2013.

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