Abtech Holdings Closes on $3 Million 7.5% Secured Notes

SCOTTSDALE, Ariz., Dec. 2, 2014 /PRNewswire/ -- Abtech Holdings, Inc. (OTC QB: ABHD) ("AbTech" or the "Company"), a full-service environmental technologies and engineering firm dedicated to providing innovative solutions to communities, industry and governments addressing issues of water pollution and contamination, today announced that it has completed the sale of $3,000,000 of Secured 7½% Notes (the "Notes"). The Company granted the Note holders warrants to purchase shares of common stock equal to 20% of the face value of the Notes, exercisable at the market price of the Company's common stock on the date the Notes were issued, and expiring 5 years from the date of grant. The Company recently reported that it had secured $900,000 of this funding in the third quarter, with the balance of $2,100,000 raised during October and November. All of the Notes were sold to existing accredited investors of the Company, two of whom are previous members of the Company's board of directors.

The Notes mature one year from the date of issuance, with the exception of one Note for $600,000 that has an extended term of two years and has a security interest that is junior to the other Notes. This $600,000 Note is also convertible into shares of the Company's common stock at a price equal to 110% of the market value of the Company's common stock on the date the Note was issued, or approximately $0.36 per share.

The proceeds from these Notes is expected to provide working capital and funds for operations as the Company builds its base of revenues from current projects underway and new contracts it is pursuing.

AbTech also announced that it has entered into an agreement with Naylor Industries, Plc for the marketing and distribution of AbTech products into the European Union. Naylor Industries, founded in 1890 is a privately-held U.K.-based manufacturer of building and construction products, specializing in clay pipes, plastic drainage & ducting and concrete products, with 350 employees, generating revenues of approximately £75 million annually. Naylor initiated the agreement with an opening order for $100,000 of AbTech products. The contract term covers a period of four years with automatic renewal options for six additional one-year terms and includes scaling minimum performance and purchases of AbTech's products by Naylor Industries.

Investor Contacts:
Yvonne L. Zappulla
Managing Director
Grannus Financial Advisors, Inc.
212-681-4108
[email protected]

Jeffrey Benison
Managing Director
Little Gem Life Science Partners
212-334-8709
[email protected] 

ABOUT ABTECH HOLDINGS, INC. (OTC QB: ABHD) AND ABTECH INDUSTRIES, INC.

AbTech Industries, Inc. (a subsidiary of AbTech Holdings Inc.) is a full-service environmental technologies and engineering firm dedicated to providing innovative solutions to communities, industry and governments addressing issues of water pollution and contamination. Its products are based on polymer technologies capable of removing hydrocarbons, sediment and other foreign elements in stormwater runoff (ponds, lakes and marinas), flowing water (curbside drains, pipe outflows, rivers and oceans), and industrial process and wastewater. AbTech's offerings include the ground-breaking new antimicrobial technology called Smart Sponge® Plus. This technology is effective in reducing coliform bacteria found in stormwater, industrial wastewater, and municipal wastewater. Smart Sponge® Plus is registered with the Environmental Protection Agency (Registration #86256-1). AbTech's teams of water treatment technology experts, civil and environmental engineers, and field operations specialists develop solutions to improve the quality of our limited water resources. AEWS Engineering (a subsidiary of Abtech Holdings, Inc.), is an independent engineering civil and environmental engineering firm partnered with top research and engineering universities. By focusing on bringing new engineering and technology innovation to the water infrastructure sector, AEWS is positioned to be at the forefront of stormwater Best Management Practices development and to deliver the latest in design excellence to its customers. For more information please visit www.abtechindustries.com. More information on AEWS Engineering can be found at www.aewsengineering.com.

This news release contains "forward-looking statements" which are not purely historical and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/abtech-holdings-closes-on-3-million-75-secured-notes-300003020.html

SOURCE Abtech Holdings, Inc.

Related Links

http://www.abtechindustries.com

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