Proceeds used to build fueling service stations, for working capital
By Devika Patel
Knoxville, Tenn., Nov. 27 - Natural Gas Fueling and Conversion Inc. priced its $30 million initial public offering of stock, according to a Form S-1 filed Wednesday with the Securities and Exchange Commission.
The company will sell 10 million common shares at $3.00 per share on a self-underwritten, best-efforts basis.
Proceeds will be used to build combined gasoline, LNG and CNG fueling service stations and for working capital purposes.
The Miami Beach company constructs, owns and operates combined gasoline, diesel and liquefied natural gas and compressed natural gas vehicle fueling and service stations in the United States along with garages to retrofit gasoline and diesel-driven vehicles to run on LNG or CNG. The company seeks to trade its shares on the OTCBB.
| Issuer: | Natural Gas Fueling and Conversion Inc.
|
| Issue: | Common stock
|
| Amount: | $30 million
|
| Shares: | 10 million
|
| Price: | $3.00
|
| Warrants: | No
|
| Pricing date: | Nov. 27
|
| Stock exchange: | OTCBB
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
