Company sells 960,933 restricted common shares at $0.60 apiece in deal
By Devika Patel
Knoxville, Tenn., April 17 – MassRoots, Inc. completed a $576,200 private placement of stock between April 1 and April 17, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold 960,933 restricted common shares at $0.60 per share. The price per share is a 54.55% discount to the April 16 closing share price of $1.32.
The Denver-based company offers a semi-anonymous social networking app for cannabis users.
| Issuer: | MassRoots, Inc.
|
| Issue: | Restricted common stock
|
| Amount: | $576,200
|
| Shares: | 960,933
|
| Price: | $0.60
|
| Warrants: | No
|
| Announcement date: | April 17
|
| Settlement date: | Between April 1 and April 17
|
| Stock symbol: | OTCBB: MSRT
|
| Stock price: | $1.32 at close April 16
|
| Market capitalization: | $54.36 million
|
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