“We presently have no plans to offer any securities under the shelf registration, or otherwise, but we believe it is prudent to always be prepared. The new shelf registration replaces the company’s prior shelf registration, which expired in April of 2014.”
Local Corporation (LOCM), a leading local advertising technology company, today announced that it has filed a new shelf registration statement with the Securities and Exchange Commission.
Once effective, this shelf registration would allow the company to issue various types of securities, including common stock, preferred stock, debt securities, and warrants, from time to time, up to an aggregate of $40 million. The new shelf registration replaces the company’s prior shelf registration, which expired in April of 2014.
“We believe that replacing our expiring shelf registration will allow us continued financial flexibility, if and when a need or opportunity should arise,” said Fred Thiel, Local Corporation chairman and CEO. “We presently have no plans to offer any securities under the shelf registration, or otherwise, but we believe it is prudent to always be prepared.” |