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ARYC > SEC Filings for ARYC > Form 8-K on 1-Nov-2013All Recent SEC Filings

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Form 8-K for ARRAYIT CORP


1-Nov-2013

Entry into a Material Definitive Agreement, Unregistered Sale of Equity Securities


Item 1.01 Entry into a Material Definitive Agreement.

On Monday, October 21, 2013, Arrayit Corporation entered into a lease agreement with Dollinger Oakmead Associates (the "Landlord") for a 15,000 square foot research and development space in Sunnyvale, California (the "Lease"). The Lease begins on January 1, 2014, and runs for a period of seven years with a monthly rent of $19,500.00.



Item 3.02 Unregistered Sales of Equity Securities

Between October 18, 2013, and October 31, 2013, Arrayit Corporation (the "Company") sold to accredited investors (the "Investors") 3,333,333 restricted shares of Company common stock, for a price of $0.30 per share ("Shares") raising a total of $1,000,000.00. The Investors received one warrant to purchase Company stock at a strike price of $0.45 ("Warrants") for every two Shares purchased, for a total of 1,666,667 Warrants distributed.

The sale and issuance of the securities discussed above were determined to be exempt from registration in reliance on Rule 506(b) of Regulation D.


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