NXT Nutritionals closes $3.3M offering

By Mass High Tech staff

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NXT Nutritionals Holdings Inc. has closed its previously noted private placement offering for about $3.3 million. The February notice of the offering anticipated a $2.35 million funding.

The Holyoke-based maker of SUSTA natural sweetener said that the company raised $5.66 million in gross proceeds related to the offering, which it will use to support the development and marketing of its sweetener product and for general corporate purposes.

NXT Nutritionals (OTCBB:NXTH) claims that its SUSTA product has few calories and a low glycemic index. The company announced in 2009 that it had named to its medical advisory board the former president of the American Diabetes Association, James R. Gavin III.

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