Stock will track economic performance of Vernon Davis brand contract
By Devika Patel
Knoxville, Tenn., April 25 - Fantex, Inc. priced a $4.21 million initial public offering of Fantex Series Vernon Davis convertible tracking stock, according to a prospectus filed Friday with the Securities and Exchange Commission.
Fantex will sell 421,100 shares at $10.00 apiece.
The company's tracking stock is intended to track and reflect the separate economic performance of a specific brand contract it has signed with an athlete, entertainer or other high profile individual.
The deal will be conducted by Fantex Brokerage Services, LLC and Stifel.
Proceeds will be used for working capital and operating expenses.
The San Francisco company focuses on acquiring minority interests in the income associated with brands. Vernon Davis is an American football tight end for the San Francisco 49ers of the National Football League.
| Issuer: | Fantex, Inc.
|
| Issue: | Fantex Series Vernon Davis convertible tracking stock
|
| Amount: | $4,211,000
|
| Shares: | 421,100
|
| Price: | $10.00
|
| Warrants: | No
|
| Agents: | Fantex Brokerage Services, LLC and Stifel
|
| Pricing date: | April 25
|
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