Financings in Brief: Medjet
This article was originally published in The Gray Sheet
Executive Summary
Medjet: Expecting net proceeds of $4.9 mil. from an initial public offering of 1.2 mil. to 1.6 mil. units at a projected price of $5 per unit. The Edison, New Jersey-based company filed a registration statement with SEC for the offering April 3. Each unit consists of one share of common stock and one warrant exercisable at $10 per share. The offering is being underwritten on a "best efforts" basis by Patterson Travis. Prior to completion of the offering, Medjet will effect a stock split, the ratio of which will be determined "based upon the number of units anticipated by the company and the underwriter to be sold in the offering," the SEC filing states.