Offering sells common stock at $0.03 per share with two-year warrants
By Devika Patel
Knoxville, Tenn., March 13 - Vystar Corp. settled a $279,500 private placement of stock from Feb. 24 through March 7, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company sold 9,316,667 common shares at $0.03 per share, which is a 40% discount to the closing price of the stock on Feb. 21 of $0.05.
The investors also received five-year warrants for 4,658,333,000 shares, each exercisable at $0.05, which is identical to the Feb. 23 closing price.
The Duluth, Ga., company makes Vytex, a natural rubber latex product that retains the positive properties of latex without producing an allergic reaction.
| Issuer: | Vystar Corp.
|
| Issue: | Common stock
|
| Amount: | $279,500
|
| Shares: | 9,316,667
|
| Price: | $0.03
|
| Warrants: | For 4,658,333,000 shares
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $0.05
|
| Settlement date: | Feb. 24 through March 7
|
| Stock symbol: | OTCBB: VYST
|
| Stock price: | $0.05 at close Feb. 21
|
| Market capitalization: | $3.21 million
|
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