Proceeds will be used to develop company's Global Energy Plantation
By Angela McDaniels
Tacoma, Wash., Feb. 24 - New Global Energy, Inc. registered to sell up to 200,000 units for $5.00 each for a total of up to $1 million. The non-brokered public offering will remain open until June 30, 2013 unless all of the units are sold earlier.
Each unit will consist of one share of common stock, one class A warrant exercisable at $5.50 for one year and one class B warrant exercisable at $6.00 for three years.
The offering does not require that a minimum number of units be sold, according to an S-1 filing with the Securities and Exchange Commission.
The company said no public market has existed for its common stock prior to this offering. Once the offering is completed, it will seek to have its shares quoted on the OTC Bulletin Board.
Proceeds will be used to develop aquaculture and jatropha farming operations and, assuming all the units are sold, to acquire equipment and location leases.
New Global Energy is based in Cocoa, Fla. It is developing its Global Energy Plantation, which combines alternative energy production, sustainable agriculture and aquaculture.
| Issuer: | New Global Energy, Inc.
|
| Issue: | Units of one share and two warrants
|
| Amount: | $1 million
|
| Units: | 200,000
|
| Price: | $5.00
|
| Warrants: | One class A warrant and one class B warrant per unit
|
| Warrant expiration dates: | One year for class A warrants and three years for class B warrants
|
| Warrant strike prices: | $5.50 for class A warrants and $6.00 for class B warrants
|
| Agent: | Non-brokered
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| Pricing date: | Feb. 24
|
| Settlement date: | By June 30, 2013
|
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