Woodbury, New York - August 3, 2009. A group of accredited investors has invested $2.85 million in Research Frontiers Inc. (Nasdaq: REFR), the developer and licensor of SPD-Smart(TM) light-control film technology.
The investors received 780,831 shares of Research Frontiers common stock at a price of $3.65 per share which was the closing market price of Research Frontiers stock on July 28, 2009, the day the transaction was priced. In addition, the investors in this stock offering received 156,161 five-year warrants to purchase Research Frontiers common stock at a price of $6.00 per share. These securities were sold pursuant to Research Frontiers' effective shelf-registration statement filed with the SEC.
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