Investors received subscription rights for shares held as of Jan. 22
By Devika Patel
Knoxville, Tenn., March 16 – Regency Affiliates, Inc. said it plans a $10 million rights offering with oversubscription rights.
The company will offer rights for 1,212,121 common shares at $8.25 per share, which is a 25% discount to the March 15 closing share price of $11.00. Investors will receive rights to purchase common stock for every share held as of Jan. 22, the record date.
The offer expires on April 7.
Proceeds will be used for investment opportunities and general corporate purposes, including working capital, maintaining investments and exploring additional investments.
The New York company invests in assets that generate attractive, predictable and sustainable returns on capital.
| Issuer: | Regency Affiliates, Inc.
|
| Issue: | Common stock
|
| Amount: | $10 million
|
| Shares: | 1,212,121
|
| Price: | $8.25
|
| Warrants: | No
|
| Record date: | Jan. 22
|
| Pricing date: | March 16
|
| Expiration date: | April 7
|
| Stock symbol: | OTCBB: RAFI
|
| Stock price: | $11.00 at close March 15
|
| Market capitalization: | $30.19 million
|
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