New Issue: Lightyear Network Solutions completes $1.17 million placement of units

By Devika Patel

Knoxville, Tenn., July 16 - Lightyear Network Solutions Inc. settled a $1.17 million private placement of units on July 12, according to an 8-K filed Friday with the Securities and Exchange Commission.

The company sold 293.075 units at $4,000.00 per unit. Each unit consists of 1,000 common shares and warrants for 3,100 shares.

Of the warrants, 500 will be exercisable at $4.00 for five years, 2,000 will be exercisable at $0.01 for three years and 600 will be exercisable at $0.01 for five years.

Lightyear is a voice and data communication services provider based in Salt Lake City.

Issuer:	Lightyear Network Solutions Inc.
Issue:	Units of 1,000 common shares and warrants for 3,100 shares
Amount:	$1,172,300
Units:	293.075
Price:	$4,000.00
Warrants:	Warrants for 3,100 shares per unit
Warrant expiration:	Five years (1,100 warrants), three years (2,000 warrants)
Warrant strike price:	$4.00 (500 warrants), $0.01 (2,600 warrants)
Settlement date:	July 12
Stock symbol:	OTCBB: LYNS
Stock price:	$6.00 at close July 12
Market capitalization:	$112.48 million

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.