Company sells 2,336,000 restricted common shares at $0.25 in offering
By Devika Patel
Knoxville, Tenn., March 25 - Northsight Capital, Inc. settled a $175,000 second and final tranche of a $584,000 private placement of stock on March 18, according to an 8-K filed Tuesday with the Securities and Exchange Commission. The deal raised $409,000 between March 3 and March 17.
The company sold 2,336,000 restricted common shares at $0.25 apiece. The price per share reflects a 44.44% discount to $0.45, the Feb. 28 closing share price.
Northsight sold 1,636,000 shares in the first tranche and 700,000 shares in the second tranche.
The deal priced for $500,000 and was increased to accommodate unanticipated demand.
The Scottsdale, Ariz., company sells water products.
| Issuer: | Northsight Capital, Inc.
|
| Issue: | Restricted common stock
|
| Amount: | $584,000
|
| Shares: | 2,336,000
|
| Price: | $0.25
|
| Warrants: | No
|
| Settlement date: | Between March 3 and March 17 (for $409,000), March 18 (for $175,000)
|
| Stock symbol: | OTCBB: NCAP
|
| Stock price: | $0.45 at close Feb. 28
|
| Market capitalization: | $25 million
|
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