Converted Organics Announces Offering of Common Stock

Boston-based Converted Organics, which makes a fertilizer by composting food waste, will issue nearly 2 million shares of its common stock to an institutional investor.

According to the terms of their agreement, Converted Organics will issue 1.96 million shares to the institutional investor, which will pay approximately $2 million. Additionally, Converted will issue to the investor five-year warrants to purchase 585,000 shares of common stock on or after Jan. 15 at $1.25 per share.