Amended Press Release -- Investview Opts to Do a Perpetual Preferred Unit Offering in Lieu of the Tender Offering
This amended press release supersedes the
release of 12/26/2019, and is being made pursuant to and in accordance with SEC
Rule 135
This amended press
release supersedes the press release issued December 26, 2019, and is being
made pursuant to and in accordance with Rule 135 under the Securities Act of
1933. This notice does not constitute an offer to sell or the solicitation of
an offer to buy securities and shall not constitute an offer, solicitation, or
sale in any jurisdiction in which such offer, solicitation, or sale would be
unlawful prior to registration or qualification under the securities laws of
that jurisdiction.
EATONTOWN, NEW JERSEY - (NewMediaWire) - December 31, 2019 - Investview, Inc. (OTCQB: INVU) has altered its
plan to launch a tender offer to exchange shares of its outstanding Common
Stock for newly-created shares of Series A Convertible Preferred in favor of
issuing a Perpetual Preferred Unit Offering.
Investview Inc. has
determined that it is in the best interest of our shareholders to not
proceed with the tender offer in lieu of a better alternative.
As Investview worked with financial and legal professionals to evaluate various
courses of action, the Company was presented with the alternative of issuing a Perpetual
Preferred Unit Offering which is better suited for Investview
and its shareholders.
The Company plans to
file a registration statement on Form S-1 offering up to 2 million units at an
offering price of $25 per Unit, each consisting of: (i) one share of 13%
Cumulative Perpetual Preferred Stock having a stated value of $25 per share
(the “Cumulative Preferred Stock”); and (ii) five common stock purchase
warrants (the “Warrants”), each exercisable for five years from the effective
date of the initial closing of the Registration Statement (the “Effective
Date”) (together, the “Units”). The Cumulative Preferred Stock, the Warrants
and the shares of Common Stock underlying the Warrants will be registered in
the registration statement. The 13% per annum dividends for the first three
years will be escrowed from the $25 Unit offering price, representing $9.75 per
share, which will result in net proceeds to the Company of $15.25 per share
before paying commissions and other expenses of the offering. These escrowed
dividends shall be paid monthly from an escrow account that is yet to be
established. The Company can redeem the Cumulative Preferred Stock after three
years at the $25 per share stated value or at any time after the 36-month
anniversary of the Effective Date. Starting in year four, if not redeemed, the
Company will pay the $3.25 per share yearly dividends in twelve equal monthly
installments and, if any dividends are not paid, they will be cumulative and be
accrued.
Upon the first
closing, which shall occur immediately following the sale of 160,000 Units
resulting in gross proceeds to the Company of $4 million, the Company will
apply for the initial listing on the OTCQX of the shares of Cumulative
Preferred Stock, the Warrants and, if eligible, the shares underlying the
Warrants. To qualify for listing, the OTCQX requires 50 holders of the shares
of Cumulative Preferred Stock and the Warrants and the Company already meets
the number of holders of Common Stock for OTCQX listing but must also meet the
price per share requirement.
The Company will
conduct closings, subsequent to the first closing, on a weekly basis for the
same offering price of $25 per Unit while those shares of the Cumulative
Preferred Stock and Warrants, and common Stock, if eligible, are trading on the
OTCQX.
In addition, the
Company plans to allow its common stockholders to exchange up to $1.2 million
worth of common stock for the Units on a pari-passu basis. The exchange ratio
will be set on the day of the first closing of the Perpetual Preferred Stock
offering.
This amended press
release supersedes the press release issued December 26, 2019, and is being
made pursuant to and in accordance with Rule 135 under the Securities Act of
1933. This notice does not constitute an offer to sell or the solicitation of
an offer to buy securities and shall not constitute an offer, solicitation, or
sale in any jurisdiction in which such offer, solicitation, or sale would be
unlawful prior to registration or qualification under the securities laws of
that jurisdiction.
About Investview, Inc.
Investview, Inc. is a
diversified financial technology organization that operates through its
subsidiaries, to provide financial products and services to individuals,
accredited investors and select financial institutions. For more information on
Investview and all of its wholly-owned subsidiaries, please visit: www.investview.com
Forward-Looking
Statements
Certain statements in
this press release may constitute “forward-looking statements.” When the
words “believes,” “expects,” “plans,” “projects,” “estimates,” and similar
expressions are used, they identify forward-looking statements. These
forward-looking statements are based on Investview’s current beliefs and
assumptions and information currently available to Investview and involve known
and unknown risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the company to be materially different
from any future results, performance or achievements expressed or implied by
these forward-looking statements. More information on potential factors that
could affect Investview’s financial results is included from time to time in
Investview’s public reports filed with the U.S. Securities and Exchange
Commission (the “SEC”), including the Company’s Annual Report on Form 10-K,
Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. We undertake
no obligation to publicly release revisions to these forward-looking statements
to reflect future events or circumstances or reflect the occurrence of
unanticipated events, except as required by federal securities law.
Safe Harbor Statement
This news release
includes certain information that may constitute forward-looking statements.
Forward-looking statements are typically identified by terminology such as
“could,” “may,” "expects,” “anticipates,” “future,” “intends,” “plans,”
“believes,” “estimates,” “proposed,” “planned,” “potential” and similar
expressions, or are those, which, by their nature, refer to future events. All
statements, other than statements of historical fact, included herein,
including statements about Investview’s beliefs and expectations, are
forward-looking statements. Forward-looking information is necessarily based
upon a number of assumptions that, while considered reasonable, are subject to
known and unknown risks, uncertainties and other factors which may cause the actual
results and future events to differ materially from those expressed or implied
by such forward-looking information. Although Investview believes that such
statements are reasonable, it can give no assurance that such forward-looking
information will prove to be accurate. Investview cautions investors that any
forward-looking statements by the Company are not guarantees of future results
or performance, and that actual results may differ materially from those in
forward-looking statements as a result of various factors. Accordingly, due to
the risks, uncertainties and assumptions inherent in forward-looking
information, readers and prospective investors in the Company’s securities
should not place undue reliance on forward-looking information. All forward-looking
information contained in this press release is given as of the date hereof and
is based upon the opinions and estimates of management and information
available to management as at the date hereof and is subject to change. The
Company assumes no obligation to revise or update forward-looking information
to reflect new circumstances, whether as a result of new information, future
events or otherwise, except as required by law.
Investview Press
Contact
Contact: Mario Romano
Phone Number: 732.889.4308
Email: pr@investview.com