Deal sells 100 million shares to fund acquisitions, working capital
By Devika Patel
Knoxville, Tenn., Jan. 23 - Omega Commercial Finance Corp. priced a $10 million public offering of stock in a Form S-1 filed Wednesday with the Securities and Exchange Commission.
The company will sell 100 million common shares at $0.10 per share. The price per share is a 25% premium to the Jan. 22 closing share price of $0.08.
Proceeds will be used to support lending operations, for future acquisitions of assets and for general working capital and operations.
The commercial real estate lending and advisory firm is based in Miami Beach.
| Issuer: | Omega Commercial Finance Corp.
|
| Issue: | Common stock
|
| Amount: | $10 million
|
| Shares: | 100 million
|
| Price: | $0.10
|
| Warrants: | No
|
| Pricing date: | Jan. 23
|
| Stock symbol: | OTCBB: OCFN
|
| Stock price: | $0.08 at close Jan. 22
|
| Market capitalization: | $4.68 million
|
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