Proceeds from sale earmarked for general working capital
By Marisa Wong
Morgantown, W.Va., June 23 – Loton, Corp. raised $1.25 million from a sale of securities to an accredited investor, according to an 8-K filing with the Securities and Exchange Commission.
The amount raised is part of a total committed capital raise of $5 million.
On June 8 and June 10, the company sold 250,000 shares of common stock at a purchase price of $5.00 per share and a three-year warrant to purchase 250,000 common shares exercisable at $0.01 per share.
Proceeds will be used for general working capital.
Loton is a Beverly Hills, Calif.-based provider of 3D rendering, animation and architectural visualization services.
| Issuer: | Loton Corp.
|
| Issue: | Common stock, warrants
|
| Amount: | $1.25 million
|
| Shares: | 250,000
|
| Price: | $5.00
|
| Warrants: | For 250,000 common shares
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $0.01
|
| Settlement date: | June 8, June 10
|
| Stock symbol: | OTC: LIVX
|
|
|
© 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.
