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Buyers United plans to sell shares of its common stock

SHARE Buyers United plans to sell shares of its common stock

Salt Lake-based Buyers United Inc. said Friday it has filed a statement with the Securities and Exchange Commission to register to resell up to 8.8 million shares of common stock.

Buyers United said it will receive the proceeds from exercise of the warrants and options and will benefit from extinguishment of the debt represented by the convertible notes, but it will not receive any proceeds or benefit from the resale of the shares by the selling security holders. There is no assurance that any of the warrants or options will be exercised or that the convertible notes will be converted.

No underwriter is participating in the offering. It is expected that the shares will be resold by the selling security holders in ordinary brokerage transactions, directly to market makers, in block trades, in privately negotiated transactions or in any combination of the foregoing at prevailing market prices or negotiated prices.