Company also prices $1.05 million secondary offering of 525,658 shares
By Devika Patel
Knoxville, Tenn., Nov. 10 – Helpful Alliance Co. priced its $29 million initial public offering of stock, according to a Form S-1/A filed Tuesday with the Securities and Exchange Commission. The deal was announced June 30 and is being conducted alongside a $1,051,316 secondary sale of stock.
The company will sell 14.5 million common shares at $2.00 per share on a self-underwritten, best-efforts basis. Shareholders will sell 525,658 shares at the same price.
Proceeds will be used for real estate development and general working capital.
The project management company is based in Deerfield Beach, Fla. The company intends to list its common stock on the OTCBB exchange.
| Issuer: | Helpful Alliance Co.
|
| Issue: | Common stock
|
| Amount: | $29 million
|
| Shares: | 14.5 million
|
| Price: | $2.00
|
| Warrants: | No
|
| Announcement date: | June 30
|
| Pricing date: | Nov. 10
|
| Stock exchange: | OTCBB
|
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