Shareholders to receive one right to buy a share for every share held
By Devika Patel
Knoxville, Tenn., Aug. 1 – IEG Holdings Corp. said it plans to raise $95.32 million in a rights offering. Source Capital Group, Inc. is the dealer-manager.
The company will offer rights for 95.32 million common shares at $1.00 apiece, which is a 40.12% discount to the closing share price of $1.67 on July 29.
Investors will receive one right to buy a share for every common share held as of Aug. 15, the record date.
The offer will expire on Aug. 29.
Proceeds will be used to fund new loan originations and for general corporate purposes.
The consumer finance company is based in Las Vegas.
| Issuer: | IEG Holdings Corp.
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| Issue: | Common stock
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| Amount: | $95.32 million
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| Shares: | 95.32 million
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| Price: | $1.00
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| Warrants: | No
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| Dealer-manager: | Source Capital Group, Inc.
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| Pricing date: | Aug. 1
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| Record date: | Aug. 15
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| Expiration date: | Aug. 29
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| Stock symbol: | OTCBB: IEGH
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| Stock price: | $1.67 at close July 29
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| Market capitalization: | $172.61 million
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