Business
Mitesco, Inc. Announces up to $15 Million Unit Preferred Capital Raise
Mitesco, Inc. Announces up to $15 Million Unit Preferred Capital Raise.
About this update from Mitesco, Inc.
[{"type":"text","content":"\n Company Announces Details of its General Solicitation Offering Under Regulation D 506(c) of the Securities Act Solely to Accredited Investors and Institutional Investors DENVER, CO, April 27, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE ‒ Mitesco, Inc. (OTCQB: MITI) (the “Company” or “Mitesco”) announced today the details of its general solicitation private placement offering (“Offering”) solely to accredited investors under Rule 506(c) of Regulation D promulgated by the Securities and Exchange Commission under the Securities Act of 1933, as amended (“Securities Act”). The Company has engaged CIM Securities, LLC (\"CIM\") as the exclusive lead placement agent. CIM invites all interested broker-dealers and accredited investors interested in participating in the Offering, to contact Mr. Jack Myers at CIM Securities via email at: [email protected] or by phone at: 619-749-2460. “The Company has several initiatives which will benefit from this funding, including the roll-out of the MyCare clinic network. The team is moving forward, and while the effort will begin in Minneapolis, 23 states are encouraging nurse practitioners to practice to the full scope of their skills and training. Those states would be primary targets for clinics in both urban and rural locations. We are including the implementation of telehealth as a part of the practice. We believe telehealth will enhance the providers’ ability to focus on consumer needs wherever and whenever they arise,” shared Larry Diamond, the CEO of the Company. “There are technology-oriented acquisitions, both domestically and in Europe, that can be accelerated with this level of funding. It is an excellent time to be acquiring proven solutions that reduce cost, improve quality, and enhance convenience for the consumer,” explained Julie R. Smith, President & COO. The Best Efforts Offering, which will have maximum gross proceeds of up to $15 million in Units, consists of Series A Preferred stock and Warrants for the purchase of common stock: The Unit for each subscriber will consist of Series A Perpetual Preferred Stock Unit priced at $25.00 per share, which pays 10% annual dividend paid monthly and is redeemable after 3 years. This is not convertible into common stock, and the Company plans to und...