Published on 10/25/2012 in the Prospect News PIPE Daily.
Lyynks raises $400,000 through private placement of common shares
Deal sells 5,714,286 common shares at $0.07 per share, a 72% discount
By Devika Patel
Knoxville, Tenn., Oct. 25 - Lyynks Inc. settled a $400,000 private placement of stock on Oct. 16, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company sold 5,714,286 common shares at $0.07 apiece, which is a 72% discount to the Oct. 15 closing share price of $0.25.
The software development company is based in Burbank, Calif.
Issuer: | Lyynks Inc.
|
Issue: | Common stock
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Amount: | $400,000
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Shares: | 5,714,286
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Price: | $0.07
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Warrants: | No
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Settlement date: | Oct. 16
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Stock symbol: | OTCBB: LYYN
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Stock price: | $0.25 at close Oct. 15
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Market capitalization: | $15.38 million
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