1 million common shares sold on self-underwritten, best-efforts basis
By Devika Patel
Knoxville, Tenn., March 3 – CGN Nanotech, Inc. priced its $1.28 million initial public offering of stock, according to a Form S-1 filed Tuesday with the Securities and Exchange Commission.
The company will sell 1 million common shares at $1.28 per share on a self-underwritten, best-efforts basis. There is no minimum number of shares that must be sold.
Proceeds will be used as working capital.
The Wanchai, Hong Kong, company is the distributor for lighting products produced by Dongguan Light Power New Energy S&T Co. Ltd., which is based in Guangdong, China. It expects its shares to trade on the OTCBB.
| Issuer: | CGN Nanotech, Inc.
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| Issue: | Common stock
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| Amount: | $1.28 million
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| Shares: | 1 million
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| Price: | $1.28
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| Warrants: | No
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| Pricing date: | March 3
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| Stock exchange: | OTCBB
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