IR Response - AHG IPO
Last year, ACDU said:
Accredited Hospitality Group, Inc., a wholly owned subsidiary of IOVE, invested in an undisclosed holding corporation that purchased a small hotel. The hotel plans to conduct a public offering to raise capital to build a new complex consisting of modern rooms, a storage facility, a safe deposit box facility, Laundromat, internet café, and business center
After the filing of the registration statement, AHG may choose to divest itself by dividend of the interest in the corporation since it will not be majority controlled by IOVE. It may also offer IOVE shareholders to be the first persons authorized to participate in the public offering depending on an opinion from legal counsel
I sent this email:
"Has your legal counsel advised your company as to whether or not shareholders will be able to participate in the public offering for AHG?"
I received this response:
"Hi XXX.
Accredited Hospitality Group continues to negotiate relating to several properties. However, nothing has been finalized. Until a working venture is placed within the corporation, there can be no decision relating to a raise for that vehicle. It is likely that we would provide preference to shareholders that are also accredited investors or, if a registration statement is approved, all investors in ACDU.
Investor Relations
AccreditedBiz"
I think that would be interesting if they let all ACDU shareholders participate.
Also, I always receive a response when I use the online form to contact the company, but have yet to receive a response when I email the company directly...
