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Fatherland Corporation Launches $5m Private Placement In US
No fewer than 375 prospective subscribers have indicated interest in the offer for subscription of 2.5 million shares of Fatherland Global Public Benefit Corporation, a Delaware-based media company.
The corporation is offering its common stock to raise $5 million through Public Private Memorandum against 20 per cent common stock, FairShares.
Fatherland is a global marketplace for the African and non-African populations for authentic stories and experiences of Africans and their race founded by Hareter Oralusi.
The corporation delivers technology-driven programmes and services to worldwide population, targeting over 100 million members. It is a holding company incorporated in Delaware and operates from New York, Atlanta, Florida, London, Dublin, Lagos, and others.
“The shares are offered at a purchase price of $2.00 per share, up to an aggregate purchase price of $5,000,000. The offering will terminate upon the sale of 2,500,000 shares, unless terminated earlier, which is a sole discretion. The minimum investment is 500 shares, or $1000. The maximum number of shares to be sold in this offering is 2,500,000 shares.
“The offering is made in reliance upon an exemption from registration under the federal securities laws provided by Section 4(a)(2) of the Securities Act of 1933, as amended, the “Securities Act”, and Rule 504 of Regulation D as promulgated by the United States Securities and Exchange Commission, the “SEC” or the “Commission”, under the Securities Act of 1933.
There is currently no public market for our common stock.
“Securities are sold to any number and type of investor, and the issuer is not subject to specific disclosure requirement”, as defined in Rule 504 of the Securities Act,” the company said in a statement to The Guardian.
However, the shares offered by Fatherland in the Private Placement Memorandum have neither been registered with nor approved by the United States Securities and Exchange Commission. They also have not been filed with nor reviewed by the Attorney General of any state nor the security regulatory authorities of ant state.
It stated: “This offering is based on the exemption from such registration as set forth in rule 504 of Regulation of the Securities Act of 1933, as amended.
“Investment in the company’s securities involves significant risks and is suitable only for persons of adequate financial means who have no need for liquidity with respect to this investment and who can bear the economic risk of a complete loss of their investment,” the company announced.
The statement added that each investor must acquire the shares of the common stock for his own account and not for the account of others, for investment purposes only and not with a view to, or for resale, distribution, or fractionalization thereof.