MassRoots could raise $8 million through public offering of its units

Offering will finance general corporate purposes and working capital

By Devika Patel

Knoxville, Tenn., Sept. 3 – MassRoots, Inc. will price an $8 million public offering of units, according to a Form S-1 filed Thursday with the Securities and Exchange Commission. The company has registered up to $16 million of stock.

The company will sell 4 million units of one common share and one five-year warrant on a self-underwritten, best-efforts basis.

Proceeds will be used for general corporate purposes and working capital.

The Denver-based company offers a semi-anonymous social networking app for cannabis users.

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