Abakan seeks $7.5M to fund business plan

Aug 21, 2014 | 11:38 AM | Thorsten Schier

Tags  Abakan, MesoCoat, pipe coating, share offering, Thorsten Schier

NEW YORK — Abakan Inc. is looking to garner $7.5 million from a private offering of up to 18.75 million shares in order to support ongoing operations, retire outstanding debt and bolster product development.

Full subscription to the restricted common stock offering, which is being priced at 40 cents per share, would give new shareholders 21.5 percent of Abakan’s outstanding shares, the Miami-based company, parent of Euclid, Ohio-based pipe coater MesoCoat Inc., said Aug. 20.....

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