March 30 2016
Source: Richmond Times-Dispatch
Richmond Times-Dispatch Calls Allegiancy IPO “First of its Kind”
A Richmond-area company is hoping to raise as much as $30 million in a broad-based public stock offering that appears to be among the first of its kind under new federal regulations, the Richmond Times-Dispatch reported earlier this month, detailing Allegiancy’s efforts to bring the company public under new regulations in what’s widely called a mini-IPO.
Earlier this month, Allegiancy, a commercial real estate asset management firm, commenced its 60- to 90-day stock offering, the Richmond Times-Dispatch reported, with plans to sell a minimum of 1.075 million shares and a maximum of 2.15 million shares at $14 per share.
“Chesterfield County-based Allegiancy said it is only the second company to sell stock under rules finalized last year by the U.S. Securities and Exchange Commission that are intended to make it easier for companies to solicit investments from the general public,” according to the article.
Read the complete article here.
Learn more about the Allegiancy IPO here.
Pictured: the Allegiancy leadership team. In CEO Steve Sadler’s announcement March 14 at the famed South by Southwest annual convention, Sadler highlighted the leadership, combined with technology fueled solutions, as the firm’s differentiating factors. To read more about the mini-IPO announcement and to watch Sadler’s presentation, click here.
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