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DLYT > SEC Filings for DLYT > Form 8-K on 7-Mar-2014All Recent SEC Filings

Show all filings for DAIS ANALYTIC CORP



Unregistered Sale of Equity Securities

Item 3.02 Unregistered Sales of Equity Securities.

As reported in a Current Report on Form 8-K filed on January 27, 2014 by Dais Analytic Corporation (the "Company"), the Company entered into a Securities Purchase Agreement (the "SPA") with an investor, Soex (Hong Kong) Industry & Investment Co., Ltd., a Hong Kong corporation (the "Investor"), pursuant to which the Company agreed to sell 37.5 million shares of the Company's common stock, $0.01 par value per share (the "Common Stock"), for $1.5 million, at $0.04 per share pursuant to Regulation S. The Company received the balance of the $1.5 million from the Investor on March 3, 2014, ahead of the March 7, 2014 deadline specified in the SPA and has issued the 37.5 million shares of Common Stock to the Investor.

The Company shall use the proceeds from the sale of the Common Stock for working capital, business development and as registered capital in an entity, which the Company is expected to be the majority owner (the "China Subsidiary"), to be incorporated in China with the Investor. Upon formation of this entity, the Investor shall provide additional funds to the China Subsidiary, as negotiated and agreed upon between the Parties and as needed to fund the China Subsidiary including, but not limited to funds to secure and pay personnel and build the required facilities and infrastructure to sell the Company's ConsERV and Aqualyte materials products in China.

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