More than $1M in non-dilutive funding was raised from a combination of preferred shares and promissory notes
WILMINGTON, Del., Oct. 18, 2023 (GLOBE NEWSWIRE) -- Onfolio Holdings Inc. (Nasdaq: ONFO, ONFOW) (the "Company" or "Onfolio") provides an update on its offering of up to 400,000 shares of its Series A Preferred Shares at $25 per share for an aggregate offering amount of $10 million. To date, the Company has raised more than one million dollars in non-dilutive funding from Series A Preferred Shares and promissory notes.
Dominic Wells, Onfolio's Chief Executive Officer, stated, "Our fundraising efforts continue to go apace, and we are pleased with the outcome to date. We continue to earmark these funds for additional acquisitions and intend to continue the offer of Series A Preferred Shares for the time being."
The shares are being offered to accredited investors only pursuant to Regulation D, Rule 506(c) under the Securities Act of 1933, as amended (the "Securities Act"). Although general solicitation is permitted under Rule 506(c) offerings, purchasers must be accredited investors and meet certain Securities and Exchange Commission ("SEC") verification requirements for validation of their "accredited investor" status. The Company intends to use the net proceeds from this offering for acquisitions purposes and general corporate purposes.
Onfolio's Series A Preferred Shares are senior in rank to shares of common stock with respect to dividends, liquidation, and dissolution. Each share of Series A Preferred carries an annual 12% cumulative, non-compounding dividend based on the $25 liquidation value of the Series A Preferred Shares, payable quarterly. The Series A Preferred Shares are redeemable at the option of the Company commencing any time after January 1, 2026 at a price equal to the purchase price ($25.00 per share) plus accrued dividends.
The promissory notes are interest-only for two years, mature at the end of the second year, and have no conversion features. They were offered to known and/or existing investors in the Company.
This press release does not constitute an offer to sell nor a solicitation of an offer to purchase any securities in any jurisdiction in which such an offer or solicitation is not authorized and does not constitute an offer within any jurisdiction to any person to whom such offer would be unlawful. Further, the securities being offered by Onfolio have not been registered under the Securities Act, any state securities laws or the securities laws of any other jurisdiction and may not be offered or sold absent registration or an applicable exemption from the registration requirements.
通過優先股和期票組合籌集了超過100萬美元的非稀釋性融資
特拉華州威爾明頓,2023年10月18日(GLOBE NEWSWIRE)——Onfolio Holdings Inc.(納斯達克股票代碼:ONFO,ONFOW)(“公司” 或 “Onfolio”)提供了其以每股25美元的價格發行多達40萬股A輪優先股的最新情況,總髮行金額爲1000萬美元。迄今爲止,該公司已從A系列優先股和期票中籌集了超過一百萬美元的非稀釋資金。
Onfolio首席執行官多米尼克·威爾斯表示:“我們的籌款活動繼續快速進行,我們對迄今爲止的結果感到滿意。我們將繼續將這些資金專門用於其他收購,並打算暫時繼續發行A系列優先股。”
這些股票僅根據經修訂的1933年《證券法》(“證券法”)第506(c)條D向合格投資者發行。儘管規則506(c)允許進行一般招標,但購買者必須是合格的投資者,並且必須符合美國證券交易委員會(“SEC”)的某些驗證要求,才能驗證其 “合格投資者” 身份。公司打算將本次發行的淨收益用於收購目的和一般公司用途。
在分紅、清算和解散方面,Onfolio的A輪優先股排名高於普通股。根據A系列優先股的25美元清算價值,每股A系列優先股每年累計派發12%的非複利股息,按季度支付。A系列優先股可由公司選擇從2026年1月1日之後的任何時候開始贖回,價格等於收購價格(每股25.00美元)加上應計股息。
期票僅限利息,爲期兩年,在第二年年底到期,沒有轉換功能。它們是向公司的已知和/或現有投資者提供的。
本新聞稿不構成出售要約,也不構成在任何司法管轄區購買任何證券的要約,而該要約或招攬購買任何證券的要約,也不構成在任何司法管轄區內向其非法要約的任何人提出的要約。此外,Onfolio發行的證券尚未根據《證券法》、任何州證券法或任何其他司法管轄區的證券法進行註冊,如果沒有註冊或適用的註冊要求豁免,則不得發行或出售。