BANGI, Inc., a diversified investment vehicle that acquires and leases specialized real estate assets in the cannabis, hemp and CBD industries, announced it has filed an offering statement with the Securities and Exchange Commission (SEC) to conduct a $50 million Regulation A+ securities offering. The net proceeds of this offering will be used primarily to finance BANGI’s acquisition program.
The Company’s utilization of Regulation A+ is partially in response to widespread investor requests for an opportunity to invest in BANGI’s expected growth from in its infancy and on the same terms that were and are continuing to be offered to some of Wall Street's most established institutional investors, pension and hedge funds. This new offering is expected to include both existing and new investors, targeting those who did not have the opportunity to participate in earlier rounds, with an emphasis on building long-term shareholders.
"Since our inception last year, our Board of Directors and management team have been actively perfecting BANGI’s business plan which, if implemented as we anticipate, could very well solidify us as one of the fastest-growing and most profitable participants in the booming cannabis real estate industry,” said Dr. Neil Parsan, Chairman and CEO of BANGI, Inc. “In addition, BANGI will represent one of the first publicly traded cannabis companies to use Regulation A+ since it was adopted in June of 2015, which our management team is particularly proud of achieving. And finally, I am very excited to report that today's debt offering will serve only to significantly strengthen our balance sheet which will be used to drive our future earnings growth and without the addition of one single new share due to our decision to avoid the equity markets at this juncture in our growth stage," concluded Dr. Parsan.
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