Acqua Group Inc. to Issue 300,000 Warrants

Acqua Group Inc., a Van Nuys company that makes and markets water coolers, said it will issue 300,000 warrants, which entitle their holders to buy Acqua common stock at certain prices within a set time.

Acqua said 240,000 of the warrants, to be issued to one of the company’s lenders, entitle the holder to purchase one share of common stock at an exercise price of $1.10 per share. An additional 60,000 warrants were issued to the public, each to purchase one share of common stock at an exercise price of $4 per share.

Acqua said it was issuing the first group of 240,000 warrants to replace 240,000 shares of common stock that were to be issued as part of a loan fee. The issuance of the common shares would have resulted in a $240,000 expense for the year that ended Jan. 31, but the issuance of the warrants will have no effect on Acqua’s financial results, said Albert A. Parisi, the company’s chairman and chief executive.