Offering sells common stock at $0.25 per share with five-year warrants
By Devika Patel
Knoxville, Tenn., June 11 - Vystar Corp. settled a $375,000 private placement of stock from May 14 through June 7, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 1.5 million common shares at $0.25 per share, which is a 28.57% discount to the closing price of the stock on May 11, $0.35.
The investors also received five-year warrants for 1.5 million shares, each exercisable at $0.35, which is identical to the May 11 closing price.
The Duluth, Ga., company makes Vytex, a natural rubber latex product that retains the positive properties of latex without producing an allergic reaction.
| Issuer: | Vystar Corp.
|
| Issue: | Common stock
|
| Amount: | $375,000
|
| Shares: | 1.5 million
|
| Price: | $0.25
|
| Warrants: | For 1.5 million shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.35
|
| Settlement date: | May 14 through June 7
|
| Stock symbol: | OTCBB: XXII
|
| Stock price: | $0.35 at close May 11
|
| Market capitalization: | $5.72 million
|
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