Business
Regency Affiliates, Inc. Completes Private Offering Of Common Stock
Regency Affiliates, Inc. Completes Private Offering Of Common Stock.
About this update from Regency Affiliates, Inc.
[{"type":"text","content":"\n\n\n\nRegency Affiliates, Inc. Completes Private Offering Of Common Stock\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\nRegency Affiliates, Inc. Completes Private Offering Of Common Stock\nAppoints New Chief Financial Officer\nPR Newswire\nNEW YORK, May 16, 2016\n\n\n\nNEW YORK, May 16, 2016 /PRNewswire/ -- Regency Affiliates, Inc. (OTC Pink: RAFI) (\"Regency\" or the \"Company\") today announced that its private offering of common stock to accredited investors closed on May 12, 2016 with 1,078,633 shares of common stock being sold for gross sale proceeds of $8,898,722.25 (inclusive of subscriptions from affiliates of the Company).  Accredited subscribers were allotted the full number of shares indicated in their subscription agreements, share certificates for which will be delivered to such subscribers in due course.\n\nLaurence S. Levy, Regency's Chairman and Chief Executive Officer stated, \"We are thrilled with the level of participation in the offering by our existing stockholders, and we believe that we will be able to invest the remaining proceeds of the offering in attractive additional assets for Regency.  We sincerely appreciate this demonstration of support by our stockholders.\"\n\nRegency also announced that it has appointed John Ryan as the Company's Chief Financial Officer.  Mr. Ryan has been a Managing Director at Hyde Park Holdings LLC, an affiliate of our Chief Executive Officer, since March 2013.  From 1999 to 2013, Mr. Ryan served as a Managing Director at GE Capital Corporation, acting as Senior Risk Manager in GECC's Corporate and Structured Finance businesses. While at GECC, Mr. Ryan managed a loan portfolio in excess of $2 billion consisting of corporate, structured and project financings, asset backed and asset-based facilities, single investor and leveraged leases and common equity and partnership vehicles, serving the infrastructure, energy, transportation, construction, manufacturing and logistics industries in the U.S. and internationally. Mr. Ryan received a B.S. in Economics from University of Pennsylvania's Wha...