Business
Regency Affiliates, Inc. Today Announced that it has Commenced an Offering of Common Stock to its Stockholders
Regency Affiliates, Inc. Today Announced that it has Commenced an Offering of Common Stock to its Stockholders.
About this update from Regency Affiliates, Inc.
[{"type":"text","content":"\n\n\n\nRegency Affiliates, Inc. Today Announced that it has Commenced an Offering of Common Stock to its Stockholders\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. Today Announced that it has Commenced an Offering of Common Stock to its Stockholders\nPR Newswire\nNEW YORK, March 16, 2016\n\n\n\nNEW YORK, March 16, 2016 /PRNewswire/ -- Regency Affiliates, Inc. (OTC Pink: RAFI) (\"Regency\" or the \"Company\") today announced that it has commenced an offering of common stock to its stockholders of record as of January 22, 2016 who are accredited investors as defined in Rule 501 of Regulation D under the Securities Act of 1933.  Regency is offering up to 1,212,121 shares of its common stock to such stockholders 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 are being offered to accredited record stockholders on a pro-rata basis, with over-subscription rights in the event that any stockholders subscribe for less than their pro-rata investment allocation.  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 offering is set to expire on April 7, 2016, but may be extended at the 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.  Unle...