Business
Legacy Education Alliance, Inc. Files Form 10 Registration Statement
Legacy Education Alliance, Inc. Files Form 10 Registration Statement.
About this update from Legacy Education Alliance, Inc.
[{"type":"text","content":"\n \n Legacy Education Alliance, Inc. (OTCQB: LEAI) (www.legacyeducationalliance.com), \n a leading international provider of practical, high-quality, and \n value-based educational training on the topics of personal finance, \n entrepreneurship, real estate, and financial markets investing \n strategies and techniques, today voluntarily filed a Form 10 \n Registration Statement with the Securities and Exchange Commission \n (\"SEC\") to register its common stock, par value $0.0001 per share under \n the Securities Exchange Act of 1934. A copy of the Form 10 Registration \n Statement is available on the Company’s website at (http://ir.legacyeducationalliance.com/all-sec-filings).\n \n \n \"The filing of the Form 10 Registration Statement is an important \n milestone in our evolution as a public company,” said Anthony C. \n Humpage, CEO of LEAI. “Our Form 10 filing and our ongoing SEC filings \n will provide additional transparency to our stockholders and the \n investment community.”\n \n \n In another significant corporate action executed in the first quarter of \n 2017, the Board of Directors of LEAI approved the adoption of a Rights \n Agreement between the Company and VStock Transfer, LLC, as Rights Agent \n (as amended from time to time, the “Rights Agreement”). The Company \n entered into the Rights Agreement on February 16, 2017. The Plan is \n intended to ensure that the Board of Directors has sufficient time to \n consider any proposal from a third party that might result in a change \n in control of the Company, make sure that all stockholders receive fair \n and equal treatment in the event of any such a proposal, and encourage \n any potential acquirer to negotiate with the Board of Directors. In \n addition, the Plan will guard against partial tender offers, open market \n accumulations and other coercive tactics aimed at gaining control of the \n Company without paying all stockholders a full control premium for their \n shares. The Plan was not adopted in response to any specific takeover \n offer. Refer to Form 8-K dated February 17, 2017 for additional \n information.\n \n \n In addition, we announced that on February 14, 2017, Tigrent Inc. \n (\"TIGE\"), then our largest stockholder, had completed the distribution \n of 15,998,326 shares of Common Stock in Legacy approve...