DULUTH, Ga. (July 9, 2009)—Vystar Corp. has begun the process of launching an initial public offering of stock held by shareholders.
The Duluth, Ga.-based company is offering for resale about 4.8 million shares of common stock at a price of $2 each. A spokeswoman said Vystar will not receive any proceeds from the sale and is not issuing new shares.
Vystar is the creator and exclusive owner of technology used to produce Vytex Natural Rubber Latex. The company has received Federal Drug Administration clearance to market and sell the first product made from Vytex, a condom manufactured by Eufaula, Ala.-headquartered Alatech Healthcre L.L.C.