Offering conducted on a self-underwritten, best-efforts basis
By Devika Patel
Knoxville, Tenn., Aug. 4 - Networking Partners, Inc. priced a direct public offering of stock for between $200,000 and $2.5 million on Aug. 3, according to a prospectus supplement filed Thursday with the Securities and Exchange Commission. The company is conducting the offering on a self-underwritten, best-efforts basis.
The company will sell between 400,000 and 5 million common shares at $0.50 apiece.
Proceeds will be used to pay offering expenses, to implement the company's business plan and for working capital.
Based in Melbourne, Fla., Networking Partners is a private company that develops and acquires social technology for niche markets.
| Issuer: | Networking Partners, Inc.
|
| Issue: | Units of one common share and one warrant
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| Amount: | $200,000 (minimum), $2.5 million (maximum)
|
| Shares: | 400,000 (minimum), 5 million (maximum)
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| Price: | $0.50
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| Warrants: | No
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| Pricing date: | Aug. 3
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