Best-efforts deal offers 5 million common shares at $1.00 per share
By Devika Patel
Knoxville, Tenn., Aug. 16 - OxySure Systems, Inc. priced its $5 million initial public offering of stock in a prospectus supplement filed Tuesday with the Securities and Exchange Commission. It expects the shares to trade on the over-the-counter bulletin board (OTCBB).
The company will sell 5 million common shares at $1.00 apiece on a best-efforts basis.
Proceeds will be used for sales and marketing, payment of debt and accounts payable, administrative costs, production, research and development and offering expenses.
Based in Frisco, Texas, OxySure has developed a technology that creates medically pure oxygen from two dry, inert proprietary powders. With this technology, oxygen is generated on demand.
| Issuer: | OxySure Systems, Inc.
|
| Issue: | Common stock
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| Amount: | $5 million
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| Shares: | 5 million
|
| Price: | $1.00
|
| Warrants: | No
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| Pricing date: | Aug. 16
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| Stock exchange: | OTCBB
|
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