Company offers common shares at $0.01 each to fund corporate purposes
By Devika Patel
Knoxville, Tenn., July 24 - Inova Technology, Inc. plans a $3.75 million direct public offering of stock, according to a S-1 filed Tuesday with the Securities and Exchange Commission.
The company will sell 375 million common shares at $0.01 per share on a continuous and best efforts basis. The per-share price is identical to the July 23 closing share price.
Proceeds will be used for debt repayment, working capital and general corporate purposes.
The technology holding company is based in Las Vegas.
| Issuer: | Inova Technology, Inc.
|
| Issue: | Common shares
|
| Amount: | $3.75 million
|
| Shares: | 375 million
|
| Price: | $0.01
|
| Warrants: | No
|
| Pricing date: | July 24
|
| Stock symbol: | OTCBB: INVA
|
| Stock price: | $0.01 at close July 23
|
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