SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: September 24, 2012
(Date of earliest event reported)
Banyan Rail Services Inc.
(Exact name of registrant as specified in its charter)
|2255 Glades Road, Suite 342-W, Boca Raton, Florida
(Address of principal executive offices)
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|Item 3.02.||Unregistered Sales of Equity Securities.|
On September 24, 2012, Banyan Rail Services Inc. (the “Company”) issued 434,783 shares of Common Stock (“Shares”) to Pacific Rail Holdings LLC (“Pacific”) for $1.15 a share or $500,000 in total. Gary O. Marino, the Company’s chairman and chief executive officer, is the president of Pacific and a significant stockholder of Pacific’s parent company. The proceeds from the sale of the Shares were used for working capital purposes.
The issuances of the Shares were made in reliance on Section 4(2) of the Securities Act of 1933 for the offer and sale of securities not involving a public offering and Rule 506 of Regulation D of the Securities Act.
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|Banyan Rail Services Inc.|
|By:||/s/ Christopher J. Hubbert|
|Name: Christopher J. Hubbert|
Dated September 25, 2012