Deal's proceeds to be used to develop and market products and systems
By Devika Patel
Knoxville, Tenn., Nov. 28 - OnePower Systems Ltd. priced a $550,000 initial public offering of stock in a Form S-1 filed Wednesday with the Securities and Exchange Commission.
The company will sell 10 million common shares at $0.055 apiece on a self-underwritten basis.
Proceeds will be used to develop and market products and systems, set up business operations, obtain required licenses and permits and establish a customer list.
Based in Beirut, OnePower is a startup company that intends to develop an electronic bill delivery and payment system that will provide utility companies with the ability to present bills and receive payment electronically.
| Issuer: | OnePower Systems Ltd.
|
| Issue: | Common stock
|
| Amount: | $550,000
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| Shares: | 10 million
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| Price: | $0.055
|
| Warrants: | No
|
| Pricing date: | Nov. 28
|
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