Business
Regency Affiliates, Inc. Extends Offer Expiration Date to May 12, 2016
Regency Affiliates, Inc. Extends Offer Expiration Date to May 12, 2016.
About this update from Regency Affiliates, Inc.
[{"type":"text","content":"\n\n\n\nRegency Affiliates, Inc. Extends Offer Expiration Date to May 12, 2016\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. Extends Offer Expiration Date to May 12, 2016\nPR Newswire\nNEW YORK, April 6, 2016\n\n\n\nNEW YORK, April 6, 2016 /PRNewswire/ -- Regency Affiliates, Inc. (OTC Pink: RAFI) (\"Regency\" or the \"Company\") today announced that it has extended the expiration date of its private offering of common stock to May 12, 2016. All other terms of the offering remain unchanged.\n\nAs previously announced, Regency is offering up to 1,212,121 shares of its common stock at a purchase price of $8.25 per share. If all 1,212,121 shares available in the offering are subscribed for and sold, the shares issued pursuant to the offering will represent approximately 24.8% of the common stock outstanding immediately following the offering, with approximately $10,000,000 of gross proceeds raised in the offering.\n\nThe shares available in the offering may be purchased only by stockholders of record who are accredited investors as defined in Rule 501 of Regulation D under the Securities Act of 1933.  There is no minimum level of participation required for the offering to be consummated, and the offering may be terminated by the Company without the sale of any shares. The expiration date for the offering may be further extended at the sole discretion of the Company.\n\nRoyalty Holdings LLC and its affiliates, including our Chief Executive Officer, holding approximately 56% of the Regency's outstanding common stock in the aggregate, have indicated their intention to subscribe for 616,124 shares of common stock in the aggregate, for an aggregate purchase price of $5,083,023.\n\nRegency intends to use the net proceeds of the offering to fund one or more future investment opportunities that may become available to the Company from time to time. Unless and until used in connection with one or more new investment opportunities, the proceeds of the offering will be available to the Company for general corporate purposes, including work...