Deal sells 10 million shares with secondary sale of 18,057,000 shares
By Devika Patel
Knoxville, Tenn., Jan. 5 – Nova Smart Solutions Inc. priced a $2.2 million initial public offering of stock along with a $3,972,540 secondary sale, according to a Form S-1 filed Tuesday with the Securities and Exchange Commission. The direct participation offering will continue for 18 months.
The company will sell 10 million common shares at $0.22 per share on a best-efforts basis. Selling stockholders will sell 18,057,000 shares at the same price in the secondary sale.
Proceeds will be used for working capital and commercialization activities.
The development-stage company is based in Miami. It expects its shares will be listed on the OTCBB exchange.
| Issuer: | Nova Smart Solutions Inc.
|
| Issue: | Common stock
|
| Amount: | $2.2 million
|
| Shares: | 10 million
|
| Price: | $0.22
|
| Warrants: | No
|
| Pricing date: | Jan. 5
|
| Stock exchange: | OTCBB
|
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