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Follow on Google News | ManeGain Sets IPO, Plans to Raise $5 MillionUnder the SEC's Regulation A+ Guidelines, ManeGain plans to sell 1,000,000 shares of Preferred Series A Stock at $5 per Share.
By: ManeGain, Inc. Regulation A+ stock is registered with the Securities and Exchange Commission (SEC) and allows startups the ability to sell stock directly to both qualified and non-qualified investors. "We have begun to sell Series A Preferred stock to the public as of this week as per our qualification from the SEC," says Jeffrey Fry, ManeGain's CEO and President. "The offering is for 1,000,000 shares at $5 per share. What makes this exciting is that startups like ours have the ability to sell registered stock directly to the public, bypassing the investment bankers and stock brokerages with Reg A+," Mr. Fry added. "It also allows us to sell to both qualified non-qualified investors. This money will allow the company to expand to 60 different locations in 40 different cities within 18 to 24 months." Management has floated approximately 20% of the company with this offering with a pre-money valuation of $17 million and a fully subscribed post-money valuation of $22 million. The stock preference is liquidation guarantee of $5 per share for all investors. The minimum purchase quantity is 200 shares, or $1,000. The first $500,000 in stock sales will be held in escrow. ManeGain expects to be fully subscribed within 90 days of their issuance of this stock offer. All of ManeGain's filling documents, including the offering circular, can be found on the SEC's Edgar site (www.sec.gov/ About ManeGain: ManeGain.com (http://www.manegain.com/) End
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