Published on 10/25/2012 in the Prospect News PIPE Daily.
Lyynks raises $400,000 through private placement of common shares
Deal sells 5,714,286 common shares at $0.07 per share, a 72% discount
By Devika Patel
Knoxville, Tenn., Oct. 25 - Lyynks Inc. settled a $400,000 private placement of stock on Oct. 16, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company sold 5,714,286 common shares at $0.07 apiece, which is a 72% discount to the Oct. 15 closing share price of $0.25.
The software development company is based in Burbank, Calif.
| Issuer: | Lyynks Inc.
|
| Issue: | Common stock
|
| Amount: | $400,000
|
| Shares: | 5,714,286
|
| Price: | $0.07
|
| Warrants: | No
|
| Settlement date: | Oct. 16
|
| Stock symbol: | OTCBB: LYYN
|
| Stock price: | $0.25 at close Oct. 15
|
| Market capitalization: | $15.38 million
|
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