Funds used for operations and business development, company reports
By Devika Patel
Knoxville, Tenn., Dec. 28 - Anchor Cngo Corp. priced a $5 million initial public offering of series A convertible preferred stock in a Form S-1 filed Friday with the Securities and Exchange Commission. The preferreds are being offered through the company's chief executive officer.
The company will sell 500,000 preferreds at $10.00 apiece. The preferreds convert into 5 million common shares.
Proceeds will be used for operations and business development, to acquire property and inventory, for advertising, marketing and working capital.
The private company is based in Lake Worth, Fla.
| Issuer: | Anchor Cngo Corp.
|
| Issue: | Series A convertible preferred stock
|
| Amount: | $5 million
|
| Shares: | 500,000
|
| Price: | $10.00
|
| Warrants: | No
|
| Pricing date: | Dec. 28
|
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