Commercial real estate management firm Allegiancy has amended its Regulation A+ offering statement. The company announced a Reg A+ offer this past September seeking to take advantage of the new securities exemption that was legalized under Title IV of the JOBS Act. The initial offer was for $50 million, but Allegiancy has stated today the amount has been lowered to $30 million. Simultaneously, Allegiancy announced it has engaged WR Hambrecht + Co. as it lead underwriter.
Allegiancy is one of the first companies in the U.S. to capitalize on the new Reg A+ rules – specifically Tier II that allows issuers to raise up to $50 million without enduring the challenging state Blue Sky review process. Last year, under the previous Regulation A rules, Allegiancy states that last year it raised $5 million in capital that spurred 400 percent growth for the company.
“Allegiancy intends to use the proceeds of this offering to grow its operations, organically and through new acquisitions, as well as investing in its proprietary technology platform and new employees to support this growth,” said Allegiancy CEO Steve Sadler. “We are delighted to partner with WR Hambrecht + Co on this offering. With the deep resources of WR Hambrecht behind us, we anticipate a robust, fruitful capital raise that will propel Allegiancy on to further growth.”
Bill Hambrecht, founder and Chairman of WR Hambrecth + CO, is a well-known name in Silicon Valley having been engaged with many big name companies including the IPO of Apple Computer and Google.
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!