By Devika Patel
Knoxville, Tenn., Oct. 12 - Viper Powersports Inc. completed a $1 million private placement of shares, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold 1,338,667 restricted common shares at $0.75 per share.
The company paid $82,025 in fees.
Proceeds will be used for motorcycle component inventories and other expenses directly related to commercial production of Viper motorcycles.
Based in Minneapolis, Viper Powersports makes custom motorcycles and associated products.
| Issuer: | Viper Powersports Inc.
|
| Issue: | Common shares
|
| Amount: | $1,004,000
|
| Shares: | 1,338,667
|
| Price: | $0.75
|
| Warrants: | No
|
| Fees: | $82,025
|
| Settlement date: | Oct. 12
|
| Stock symbol: | OTCBB: VPWS
|
| Stock price: | $1.00 at close Oct. 12
|
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