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Cereplast Sells $5 Million Worth of Stock

7:27 AM MDT | September 4, 2012 | Lindsay Frost

Cereplast (El Segundo, CA)—a designer and manufacturer of biobased plastics, used as substitutes for injection molding, thermoforming, blow molding and extrusions—says it has successfully completed the fundraising transaction of $5 million for its Series A Preferred Stock. The the stake was sold to Ironridge Technology (San Francisco, CA). “The transaction will provide us with the access to liquidity to resolve the receivables issues and monetize it, but also to re-start our production schedule and access the necessary...

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