Metalclad Sells 1 Million Shares
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Metalclad Corp., the Anaheim-based supplier of industrial insulation and asbestos-abatement services, has sold 1 million shares of common stock to Grant S. Kesler.
The sale provides the company with $1.25 million to reduce debt and for working capital. Metalclad also granted a five-year option to Kesler for the purchase of an additional 250,000 shares of company stock.
Kesler, president of Merchant House Financial Services Corp. of Santa Ana, a firm that specializes in providing expansion capital to growing companies, was also named to Metalclad’s board of directors.
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