Company sells 45.6 million common shares at a price of $0.05 per share
By Devika Patel
Knoxville, Tenn., Sept. 25 - Las Vegas Railway Express, Inc. completed an $817,000 tranche of a private placement of stock in tranches from July 24 to Sept. 5, according to an 8-K filed Tuesday with the Securities and Exchange Commission. The company has raised $2.28 million thus far in the deal, which began May 3.
The company sold 45.64 million common shares at $0.05 apiece, a 37.5% discount to the closing share price, $0.08, on May 2. It sold 16.34 million shares in the latest tranche.
The Las Vegas-based company is focused on re-establishing a rail passenger train service between Las Vegas and Los Angeles.
| Issuer: | Las Vegas Railway Express, Inc.
|
| Issue: | Common stock
|
| Amount: | $2,282,000
|
| Shares: | 45.64 million
|
| Price: | $0.05
|
| Warrants: | No
|
| Settlement date: | Between May 3 and Sept. 5
|
| Stock symbol: | OTCBB: XTRN
|
| Stock price: | $0.08 at close May 2
|
| Market capitalization: | $16.82 million
|
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