Company sells 29.3 million common shares at a price of $0.05 per share
By Devika Patel
Knoxville, Tenn., July 26 - Las Vegas Railway Express, Inc. completed a $75,000 tranche of a private placement of stock from July 11 to July 23, according to an 8-K filed Thursday with the Securities and Exchange Commission. The company has raised $1.47 million thus far in the deal, which began May 3.
The company sold 29.3 million common shares at $0.05 apiece, a 37.5% discount to the closing share price, $0.08, on May 2. It sold 1.5 million shares in the latest tranche.
The Las Vegas-based company is focused on re-establishing a rail passenger train service between Las Vegas and Los Angeles.
| Issuer: | Las Vegas Railway Express, Inc.
|
| Issue: | Common stock
|
| Amount: | $1,465,000
|
| Shares: | 29.3 million
|
| Price: | $0.05
|
| Warrants: | No
|
| Settlement date: | Between May 3 and July 11
|
| Stock symbol: | OTCBB: XTRN
|
| Stock price: | $0.08 at close May 2
|
| Market capitalization: | $4 million
|
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