Medbox aims to price IPO of 3 million shares between $20.00 and $30.00

Funds slated for marketing of products and services, working capital

By Devika Patel

Knoxville, Tenn., July 17 - Medbox, Inc. will price an initial public offering of 3 million common shares, according to an S-1 filed Wednesday with the Securities and Exchange Commission. The deal will be conducted on a self-underwritten, best-efforts basis.

The company will sell the shares at a price expected to be between $20.00 and $30.00 per share.

Proceeds will be used to expand the marketing of the company's products and services, expand its product lines, as well as for research and development, working capital and other general corporate purposes.

The West Hollywood, Calif., company has the rights to distribute a kiosk that dispenses medicines.

© 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.