Company offers shares at $0.10 each to fund future acquisition targets
By Devika Patel
Knoxville, Tenn., May 20- Omega Commercial Finance Corp. said it plans a $10 million direct public offering of stock.
The company will sell 100 million common shares at $0.10 per share. The per-share price is identical to the May 17 closing share price.
Proceeds will be used to support Omega Capital Street and Omega CRE Group's Small Balance Loan Program and for future acquisition targets.
The commercial real estate lending and advisory firm is based in Miami Beach.
| Issuer: | Omega Commercial Finance Corp.
|
| Issue: | Common shares
|
| Amount: | $10 million
|
| Shares: | 100 million
|
| Price: | $0.10
|
| Warrants: | No
|
| Pricing date: | May 20
|
| Stock symbol: | OTCBB: OCFN
|
| Stock price: | $0.10 at close May 17
|
| Market capitalization: | $5.85 million
|
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