Offering includes 40 million shares to be sold by selling shareholders
By Devika Patel
Knoxville, Tenn., Jan. 30 - TOA Holdings, Inc. priced its $1.25 million initial public offering of stock in a Form S-1 filed Thursday with the Securities and Exchange Commission.
The company will sell 4 million common shares at $1.00 per share on a self-underwritten, best-efforts basis. It also registered 40 million shares that will be sold by selling shareholders at the same price.
Settlement is expected within a year.
Proceeds will be used for working capital and other general corporate purposes, as well as potential acquisitions.
The Osaka, Japan, company distributes electronics, chemicals, food products and general merchandise. It also invests in commodities, coordinates industrial projects and also helps procure raw materials and equipment. The company expects its shares to trade on the OTCBB.
| Issuer: | TOA Holdings, Inc.
|
| Issue: | Common stock
|
| Amount: | $4 million
|
| Shares: | 4 million
|
| Price: | $1.00
|
| Warrants: | No
|
| Pricing date: | Jan. 30
|
| Stock exchange: | OTCBB
|
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