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Provider: Reuters Investment Profile
$20.00
Provider: GlobalData
$125.00
Provider: GlobalData
$125.00
Provider: GlobalData
$125.00

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Legend International Holdings Inc Announces Filing Of Rights Offering Registration Statement


Monday, 2 Sep 2013 06:00am EDT 

Legend International Holdings Inc announced that it had filed a registration statement with the Securities and Exchange Commission for a proposed rights offering to holders of its common stock. Upon Effectiveness of the registration statement, the Company intends to distribute non-transferable subscription rights to purchase up to an aggregate of 444,047,971 shares of common stock. Each stockholder of record on the record date will receive one subscription right for each share of common stock owned on the record date. Each subscription right entitles the holder to purchase one share of common stock at a purchase price of $0.05 per share. The Company expects the record date to be October 24, 2013 or later. Upon commencement of the rights offering, stockholders will be able to exercise their rights to purchase shares in the rights offering until the expiration date, which has not yet been determined. The Company plans to finalize the record date and the expiration date for the rights offering shortly before the registration statement is declared effective by the SEC. The Company reserves the right to cancel or terminate the rights offering at any time prior to the expiration of the rights offering. The Company intends to use the net proceeds of the offering, to develop its phosphate assets and for general corporate purposes. Any remaining net proceeds will be used for working capital and general corporate purposes. 

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