2 million shares sold to fund working capital for phase 1 development
By Devika Patel
Knoxville, Tenn., Jan. 27 – Aina Le’a, Inc. priced a $27.5 million initial public offering of stock, according to a Form S-1 filed Tuesday with the Securities and Exchange Commission.
The company will sell 2 million common shares at $13.75 per share.
Proceeds will be used to pay obligations, as working capital for phase 1 development and to retire beneficial interest held by investors.
The real estate development company is based in Waikoloa, Hawaii. It expects its shares will trade on the Nasdaq exchange under the symbol “AIZY”
| Issuer: | Aina Le’a, Inc.
|
| Issue: | Common stock
|
| Amount: | $27.5 million
|
| Shares: | 2 million
|
| Price: | $13.75
|
| Warrants: | No
|
| Pricing date: | Jan. 27
|
| Stock symbol: | Nasdaq: AIZY
|
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