Offering to consist of 20 million common shares to fund business plan
By Devika Patel
Knoxville, Tenn., Feb. 2 – Leng Universal, Inc. priced its $10 million initial public offering of stock on Tuesday, according to a Form S-1 filed with the Securities and Exchange Commission.
The company will sell 20 million common shares at $0.50 per share on a best-efforts basis.
The sale will expire within one year.
Proceeds will be used for the company’s business plan.
The Fort Lee, N.J., company makes and markets high-end undergarments and active-wear. It plans to list its stock on the OTCBB exchange.
| Issuer: | Leng Universal, Inc.
|
| Issue: | Common stock
|
| Amount: | $10 million
|
| Shares: | 20 million
|
| Price: | $0.50
|
| Warrants: | No
|
| Pricing date: | Feb. 2
|
| Stock exchange: | OTCBB
|
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