Company offers 8.19 million shares, warrant to Beijing Xinhua Huifeng
By Marisa Wong
Madison, Wis., July 14 – Moxian China, Inc. expects to raise $8.19 million through a private placement of 8.19 million shares of common stock to Beijing Xinhua Huifeng Equity Investment Centre, according to a news release.
Moxian said it has received the first tranche of funds and expects to settle the remainder of the placement before the end of July.
The company also offered the investor a warrant for an additional 32 million shares. The expiration date to subscribe to the warrant is July 31.
Proceeds will be used for working capital and general corporate purposes.
Based in Shenzhen, China, Moxian provides social marketing and promotion platforms to merchants who want to promote their businesses through online social media.
| Issuer: | Moxian China, Inc.
|
| Issue: | Common stock
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| Amount: | $8.19 million
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| Shares: | 8.19 million
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| Price: | $1.00
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| Warrant: | For 32 million shares
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| Investor: | Beijing Xinhua Huifeng Equity Investment Centre
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| Announcement date: | July 14
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| Stock symbol: | OTCQB: MOXC
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| Stock price: | $6.00 at close July 7
|
| Market capitalization: | $1.19 million
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