Self-underwritten deal offers 20 million of company’s common shares
By Devika Patel
Knoxville, Tenn., Dec. 15 – Rancho Santa Fe Mining, Inc. priced its $10 million initial public offering of stock alongside a $3,375,000 secondary offering, according to a Form S-1 filed Tuesday with the Securities and Exchange Commission.
The company will sell 20 million common shares at $0.50 per share on a self-underwritten, best-efforts basis. Selling stockholders will offer 6.75 million shares at the same price.
Proceeds will be used for project development and commercialization, operating expenses and working capital.
The development stage company with limited operations is based in San Diego.
| Issuer: | Rancho Santa Fe Mining, Inc.
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| Issue: | Common stock
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| Amount: | $10 million
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| Shares: | 20 million
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| Price: | $0.50
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| Warrants: | No
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| Pricing date: | Dec. 15
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