Rancho Santa Margarita-based Liquidmetal Technologies Inc. has raised $12 million in a private placement.
Liquidmetal is a materials technology company that develops products made from alloys. It trades on the over-the-counter Bulletin Board.
Liquidmetal lost just more than $1 million on revenue of $196,000 in its most recent quarter.
The company sold senior convertible notes to private investors, along with warrants that give them a right to purchase up to a total of 18,750,000 shares of its common stock at 38.4 cents a share, according to a filing made to the Securities and Exchange Commission.
The notes can be converted at any time into the company’s common stock at 35.2 cents per share.
Liquidmetal’s shares closed at 29 cents Wednesday.
The latest private placement follows the company’s sale of 30 million shares of common stock last month to Denver-based Visser Precision Cast LLC. Liquidmetal has tapped Visser as the sole manufacturer of products and components that would use Liquidmetal’s intellectual property. The $3 million deal included a sale of a warrant to buy up to an additional 15 million shares.
Liquidmetal also issued a convertible bond to Visser in the aggregate purchase price of up to $2 million.
Liquidmetal reported in a separate Securities and Exchange Commission filing that it has extended its licensing agreement with Apple Inc., giving the Cupertino-based electronics corporation a full license to use Liquidmetal’s intellectual property in consumer electronics products.
The agreement extends the license for two additional years, to February, 2014.