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updated: 11/19/2013 10:05 AM

Z Trim closes $1.4 million public offering

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MUNDELEIN -- Biotechnology company Z Trim Holdings, said it completed a registered public offering of 1.87 million shares of common stock at a price per share of 75 cents and warrants to purchase 1.4 million shares of common stock at an exercise price of $1.00 per share, representing gross proceeds to Z Trim of $1.4 million.

Z Trim intends to use the net proceeds for working capital needs and other general corporate purposes, including conducting research and development, hiring additional sales and R&D staff, and further protecting its intellectual property.

Maxim Group LLC served as the exclusive placement agent for the offering.

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