ADM Tronics raises $1.55M in private placement, adds three directors

ADM Tronics Unlimited, Inc. (OTCQB: ADMT) completed two closings of a private placement, raising approximately $1.55 million in aggregate gross proceeds, according to a company press release.

The first closing of $1.3 million occurred on October 27, 2026, followed by a second closing of $250,000 on October 28, 2026. Shares were sold at $0.10 per share, with warrants to purchase shares equal to 50% of the shares purchased included in the offering. The company said it expects to raise approximately $5.0 million in total from the private placement, with additional closings subject to customary conditions.

The Northvale, New Jersey-based company also announced three new board appointments. Klaus Kleinfeld, former chairman and CEO of Siemens AG and Alcoa/Arconic, will serve as independent non-executive chairman. Greg Wasson, former president and CEO of Walgreens Boots Alliance, was also named to the board. Michael Burychka, former CEO of IP Group plc's North American business, joined the board effective upon the initial closing.

The appointments of Kleinfeld and Wasson will take effect following a ten-calendar-day period after the company files and transmits its Schedule 14F-1 information statement to stockholders.

Andre' DiMino will remain a director and continue as CEO overseeing ADM Tronics' existing medical device, chemical, and engineering services businesses.

Proceeds from the private placement are designated for working capital, transaction costs, and the development of new businesses in deep technology. The company said it expects to provide further details on its plans in the coming months.

Wasson Enterprise, co-founded by Greg Wasson, acts for the anchor investor group in the private placement. Additional details are available in the company's Current Report on Form 8-K filed with the Securities and Exchange Commission.

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