Price of $8.25 a share an 11.1% discount to May 11 closing price
By Wendy Van Sickle
Columbus, Ohio, May 16 – Regency Affiliates, Inc. completed an almost $8.9 million private offering of common stock on Thursday, according to a Monday press release.
The company sold 1,078,633 shares at $8.25 apiece for proceeds of $8,898,722.25, including subscriptions from affiliates of the company. The price represents an 11.1% discount to the stock’s closing price of $9.28 on Wednesday.
Accredited subscribers were allotted the full number of shares indicated in their subscription agreements, the company said.
Laurence S. Levy, Regency's chairman and chief executive officer, said in the press release that the company expects to invest proceeds in “attractive additional assets.”
The New York company invests in assets that generate attractive, predictable and sustainable returns on capital.
| Issuer: | Regency Affiliates, Inc.
|
| Issue: | Common stock
|
| Amount: | $8,898,722
|
| Shares: | 1,078,633
|
| Price: | $8.25
|
| Warrants: | No
|
| Settlement date: | May 12
|
| Stock symbol: | OTCBB: RAFI
|
| Stock price: | $9.28 at close May 11
|
| Market capitalization: | $37.17 million
|
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