Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button


DHgate

Home > Press > VeruTEK Technologies, Inc. Completes Private Placement, Appoints Three Independent Directors to its Board

Abstract:
VeruTEK Technologies, Inc. (VTKT.OB) announced the completion of a private placement offering whereby the Company sold approximately 1.34 million shares of its common stock plus warrants to purchase approximately 2.7 million additional shares of common stock. VeruTEK raised approximately $2.059 million. The proceeds will be used for working capital to support current growth as well as for other general corporate purposes.

VeruTEK Technologies, Inc. Completes Private Placement, Appoints Three Independent Directors to its Board

BLOOMFIELD, CT | Posted on October 18th, 2007

VeruTEK also announced the appointment of Douglas Anderson as Chairman of its board of directors and Mark Ain and Carlos Naudon as Independent Directors.

Douglas Anderson brings extensive experience in operations, management, finance and M&A to the position. He is the former Chairman, CEO and President of Open Solutions, Inc. (OSI), a leading provider of e-business and software applications for community financial institutions. OSI was acquired in January 2007 by private equity firms The Carlyle Group and Providence Equity Partners. In addition, Mr. Anderson was President of Manchester Savings Bank before it was sold to New Alliance Bank.

Mark Ain is Founder, former CEO and current Executive Chairman of Kronos Incorporated, a human capital management software company that was recently acquired by Hellman and Friedman Capital Partners for $1.8 billion.

Carlos Naudon is the founder, President and Chief Executive Officer of Banking Spectrum, a strategy and compliance consulting company serving the financial services industry. He is also an attorney with Allister and Naudon as well as a retired Certified Public Accountant. Mr. Naudon formerly served as Managing Director of OSI.

"Doug, Mark and Carlos each have a history of helping young companies become highly successful, profitable organizations," said Dr. John Collins, CEO of VeruTEK. "Doug's leadership on the board will be invaluable as VeruTEK continues to grow. Mark and Carlos round out an experienced and prestigious Board of Directors that will help ensure that VeruTEK reaches the next level. We are extremely excited that they have joined the Company."

As part of this growth strategy, VeruTEK co-founder, Senior Vice President and Director of Research and Development, George Hoag, Ph.D., has stepped down from the board effective immediately. Dr. Collins said, "another benefit of adding these tremendous new board members is that it frees George up to focus even more on research and development of new green products and technologies."

####

About VeruTEK Technologies, Inc.
VeruTEK (VTKT.OB) provides proprietary, patent-pending, green nanotechnology solutions for cleaning up the environment. For more information, please visit http://www.verutek.com .

Safe Harbor Statement

The statements contained herein, which are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements including, but not limited to, certain delays beyond the Company's control with respect to market acceptance of new technologies, products and services, delays in testing and evaluation of products and services, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.

For more information, please click here

Contacts:
VeruTEK Technologies, Inc.
Jim Carini

312-953-8319

Copyright © Business Wire 2007

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

VC/Funding/Angel financing/Loans/Leases/Crowdfunding

Harris & Harris Group Portfolio Company, Magic Leap, Raises $793.5 Million in New Funding February 3rd, 2016

Israel: A Nanotech Superpower: Did you know that Israel is a hotbed for nanotechnology research and development? February 1st, 2016

Nanostart AG: Capital increase and realignment December 31st, 2015

Google Announces Results From Two Years of Testing on Quantum Computers Made by Harris & Harris Group Portfolio Company, D-Wave Systems December 9th, 2015

Announcements

Chemical cages: New technique advances synthetic biology February 10th, 2016

New thin film transistor may lead to flexible devices: Researchers engineer an electronics first, opening door to flexible electronics February 10th, 2016

Superconductivity: Footballs with no resistance - Indications of light-induced lossless electricity transmission in fullerenes contribute to the search for superconducting materials for practical applications February 9th, 2016

SUNY Poly and GLOBALFOUNDRIES Announce New $500M R&D Program in Albany To Accelerate Next Generation Chip Technology: Arrival of Second Cutting Edge EUV Lithography Tool Launches New Patterning Center That Will Generate Over 100 New High Tech Jobs at SUNY Poly February 9th, 2016

Appointments/Promotions/New hires/Resignations/Deaths

Tesla NanoCoatings Gains Talents of Joe Davis as Vice President-Sales Engineer January 27th, 2016

Semblant Appoints Donald Cunningham as Chief Commercial Officer January 2nd, 2016

Beneq introduces new growth strategy and company structure - Jukka Nieminen appointed President December 15th, 2015

Kerstin Kleese van Dam Named Director of Brookhaven Lab's Computational Science Initiative September 26th, 2015

Environment

Scientists have put a high precision blood assay into a simple test strip: Researchers have developed a new biosensor test system based on magnetic nanoparticles February 3rd, 2016

Herbal Extracts Applied to Synthesize Titanium Dioxide Nanoparticles January 28th, 2016

FLEXcon shares insights on developments and safety guidelines in nanotechnology: FLEXcon hosted New England Nanotechnology Association event, discussing latest industry activities and innovations January 25th, 2016

Highly efficient heavy metal ions filter January 25th, 2016

NanoNews-Digest
The latest news from around the world, FREE




  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







Car Brands
Buy website traffic