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Corporate Status Change and $2.6 Million Secondary Stock Offering Filed for Peacock Financial Corp.
SAN JACINTO, Calif.--(BUSINESS WIRE)--Sept. 16, 1998--Peacock Financial Corp. (OTC BB:PFCK) Wednesday announced that it has filed the necessary paperwork with the Securities and Exchange Commission to become a registered BDC (Business Development Company) under the Investment Act of 1940.
Simultaneously, the company has also filed a preliminary offering circular stating its intent to raise $2.6 million in new capital for investment in real estate and other business opportunities.
Peacock Financial's chief executive officer, Steven R. Peacock, stated, ''By filing to become a Business Development Company (BDC), Peacock Financial has completed its internal structuring to become a diversified investment company with interests in real estate and other business opportunities.''
Peacock continued, ''The change in status (to a BDC) will permit the company to take advantage of the simpler, quicker and more cost- effective filing procedures with the Securities and Exchange Commission in raising capital without changing in any way the company's stated business plan.''
Peacock Financial is a fully reporting publicly traded investment holding company with a rich history in real estate development through its wholly owned subsidiary, Peacock Development Corp. The company recently announced its intention to acquire Linzy Capital, a boutique investment-banking firm with headquarters in Las Vegas, which is intended to occur once the secondary offering announced Wednesday is closed.
Safe-harbor statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein that are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including but not limited to certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission.
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