Offering sells 12.5 million common shares to fund corporate purposes
By Devika Patel
Knoxville, Tenn., Sept. 21 - Forgiven Bottling Group, Inc. priced its $2.5 million initial public offering of stock in a Form S-1 filed Friday with the Securities and Exchange Commission.
The company will sell 12.5 million common shares at $0.20 per share on a self-underwritten basis.
Proceeds will be used for general corporate purposes, which may include advertising and marketing expenses, working capital and capital expenditures.
The Las Vegas-based company offers an alcohol metabolizing product that was shown to speed the body's ability to process alcohol by an average of 62% faster in women and 32% faster in men.
| Issuer: | Forgiven Bottling Group, Inc.
|
| Issue: | Common stock
|
| Amount: | $2.5 million
|
| Shares: | 12.5 million
|
| Price: | $0.20
|
| Warrants: | No
|
| Pricing date: | Sept. 21
|
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