Business
Branded Legacy, Inc. Secures $1M Line of Credit, Affirms No Reverse Split, and Previews Upcoming Investor Engagements
Branded Legacy, Inc. Secures $1M Line of Credit, Affirms No Reverse Split, and Previews Upcoming Investor Engagements.
About this update from Branded Legacy Inc.
[{"type":"text","content":"\n\n\n\nBranded Legacy, Inc. Secures $1M Line of Credit, Affirms No Reverse Split, and Previews Upcoming Investor Engagements\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nBranded Legacy, Inc. Secures $1M Line of Credit, Affirms No Reverse Split, and Previews Upcoming Investor Engagements\nPR Newswire\nMELBOURNE, Fla., Nov. 7, 2023\n\n\n\nBranded Legacy strengthens financial stability with a new line of credit and commits to enhancing shareholder value by avoiding a reverse stock split.\nMELBOURNE, Fla. , Nov. 7, 2023 /PRNewswire/ -- Branded Legacy, Inc (OTC.PK: BLEG), a biotechnology holdings company, has secured a $1M line of credit under a fixed interest rate, underscoring its commitment to strategic growth without shareholder dilution. This financial maneuver is aligned with the company's disciplined approach to expansion and reflects confidence in its operational and fiscal policies.\n\nDave Oswald, CEO of Branded Legacy, affirms, \"This line of credit is pivotal, providing us with the flexibility to advance our operations and affirming our commitment to maintaining shareholder value. It's a strategic choice that supports our growth ambitions while preserving our corporate integrity.\"\nIn its ongoing efforts to enhance shareholder value, Branded Legacy has retired 1.6 billion shares and reduced its preferred classes to three. Independent Director Steven Augustine emphasizes the leadership's pledge to shareholder alignment, stating, \"Our team is resolutely invested in Branded Legacy's future, evidenced by our unanimous decision against share liquidation, further securing our collective long-term interests\nIn line with these developments, Branded Legacy is excited to announce plans for an open house at its expansive 11,000 square-foot facility, providing an opportunity to experience the company's operations up close. Details will be released in the coming weeks.\nAdditionally, the investor packet, previously mentioned in the last teleconference, is nearing completion after thorough review by the finance team and consideration of recent acquisitions.\nDates a...