8.19 million shares sold to Beijing Xinhua at $1.00 per share in deal
By Devika Patel
Knoxville, Tenn., March 8 – Moxian Inc. completed an $8.19 million private placement of stock with Beijing Xinhua Huifeng Equity Investment Center on Feb. 29, according to an 8-K filed Tuesday with the Securities and Exchange Commission. The deal priced on June 4 and was announced on July 14.
The company sold 8.19 million common shares at $1.00 per share. The price per share is an 84.13% discount to $6.30, the June 3 closing share price.
Proceeds will be used for working capital and general corporate purposes.
Based in Shenzhen, China, Moxian, formerly Moxian China, Inc., provides social marketing and promotion platforms to merchants who want to promote their businesses through online social media.
| Issuer: | Moxian Inc.
|
| Issue: | Common stock
|
| Amount: | $8.19 million
|
| Shares: | 8.19 million
|
| Price: | $1.00
|
| Warrants: | No
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| Investor: | Beijing Xinhua Huifeng Equity Investment Center
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| Pricing date: | June 4
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| Announcement date: | July 14
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| Settlement date: | Feb. 29
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| Stock symbol: | OTCBB: MOXC
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| Stock price: | $6.30 at close June 3
|
| Market capitalization: | $896.66 million
|
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