Company sells up to 5 million shares to finance expansion into China
By Devika Patel
Knoxville, Tenn., Sept. 9 – Moxian Inc. priced a $20 million public offering of stock, according to a form S-1/A filed Friday with the Securities and Exchange Commission. The deal was announced March 16.
The company will sell between 2.5 million and 5 million common shares at $4.00 per share on a best-efforts basis. The price per share is a 20.79% discount to the Sept. 8 closing share price of $5.05.
Axiom Capital Management Inc. and Cuttone & Co., Inc. are the agents.
Settlement is expected Nov. 14.
Proceeds will be used for expansion of the company’s business in China and throughout Asia, working capital and other general corporate purposes.
Based in Shenzhen, China, Moxian, formerly Moxian China, Inc., provides social marketing and promotion platforms to merchants who want to promote their businesses through online social media.
| Issuer: | Moxian Inc.
|
| Issue: | Common shares
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| Amount: | $10 million (minimum), $20 million (maximum)
|
| Shares: | 2.5 million (minimum), 5 million (maximum)
|
| Price: | $4.00
|
| Warrants: | No
|
| Agents: | Axiom Capital Management Inc. and Cuttone & Co., Inc.
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| Announcement date: | March 16
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| Pricing date: | Sept. 9
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| Settlement date: | Nov. 14
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| Stock symbol: | OTCBB: MOXC
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| Stock price: | $5.05 at close Sept. 8
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| Market capitalization: | $323.33 million
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