Rosewind CORP just came out with a new prospectus, available here. This is an SEC requirement for firms looking to issue certain types of securities. An excerpt of the prospectus is provided below:
The 147,650 shares currently outstanding that are being offered for resale by Lincoln Park, the selling stockholder, will be sold for the account of Lincoln Park. As a result, all proceeds from the sales of the 147,650 shares of common stock currently outstanding and offered for resale hereby will go to Lincoln Park and we will not receive any proceeds from the resale of those shares of common stock by Lincoln Park.
The 147,650 share s currently outstanding and being offered for resale were previously issued to Lincoln Park under the Purchase Agreement. In connection with the initial purchase in July 2016, we received gross proceeds of $500,000. Following the Commencement Date, we received an additional $131,000 in gross proceeds in September 2016. We may receive up to an additional $9,869,000 in gross proceeds if we issue to Lincoln Park all of the additional shares issuable pursuant to the Purchase Agreement. However, we are not registering for sale and are not offering under this prospectus all of the shares issuable pursuant to the Purchase Agreement. As we are unable to predict the timing or amount of potential issuances of all of the shares offered hereby, we have not allocated any proceeds of such issuances to any particular purpose. Accordingly, all such proceeds are expected to be allocated to working capital. It is possible that no shares will be issued under the Purchase Agreement.
After the issuance of any of the shares issuable under the Purchase Agreement, we would not receive any proceeds from the resale of those shares by Lincoln Park because those shares will be sold for the account of Lincoln Park.
We will incur all costs associated with this registration statement and prospectus.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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Other recent filings from the company include the following:
Additional definitive proxy soliciting materials and Rule 14(a)(12) material - May 14, 2018
Other preliminary proxy statements - April 27, 2018