Offering sells 50 million shares to fund acquisition, working capital
By Devika Patel
Knoxville, Tenn., Sept. 26 - Zyrox Mining International, Inc. priced a $12.5 million public offering of stock in a Form S-1 filed Wednesday with the Securities and Exchange Commission.
The company will sell 50 million common shares at $0.25 per share. The price per share is a 31.58% premium to the Sept. 25 closing share price of $0.19.
Proceeds will be used for property and equipment acquisitions, to purchase Zyrox Mining Co. Ltd. for $1.25 million, to retire liabilities and for working capital.
The development-stage company is based in Miami.
| Issuer: | Zyrox Mining International, Inc.
|
| Issue: | Common stock
|
| Amount: | $12.5 million
|
| Shares: | 50 million
|
| Price: | $0.25
|
| Warrants: | No
|
| Pricing date: | Sept. 26
|
| Stock symbol: | OTCBB: ZYRX
|
| Stock price: | $0.19 at close Sept. 25
|
| Market capitalization: | $18.81 million
|
© 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.
