DALLAS, Dec. 3, 2014 /PRNewswire/ -- CVSL Inc.
[NYSE MKT: CVSL] said today that is has filed a shelf
registration statement on Form S-3 with the U.S. Securities and
Exchange Commission (SEC) to allow the Company to raise up to
$100 million in incremental capital
on an as-needed basis for acquisitions and general working
capital.
The registration statement also includes a sales agreement
prospectus that would allow for the sale of up to $25 million in at-the-market (ATM)
offerings.
The registration statement has been filed, but has not yet
become effective. At the present time, the Company has no
specific plans to issue securities under the registration
statement. If and when the registration statement is declared
effective by the SEC, the Company will be able to offer and sell,
from time to time, up to $100 million
of securities such as common stock, preferred stock, debt
securities, warrants, units or any combination thereof.
Following the effectiveness of the shelf registration statement,
the Company may periodically offer one or more of the registered
securities in amounts, at prices, and on terms to be announced
when, and if, the securities are offered. The terms of any
securities offered under the registration statement, and the
intended use of the net proceeds resulting therefrom, will be
established at the times of the offerings and will be described in
prospectus supplements filed with the SEC at the times of the
offerings. These securities may not be sold, nor may offers to buy
be accepted, prior to the time the registration statement becomes
effective. The registration statement on Form S-3 may be
accessed through the SEC's website at edgar.sec.gov.
"Once declared effective, the shelf registration statement will
enable us to raise up to $100 million
for, among other things, acquisitions of additional companies in
the direct-to-consumer sector. Being able to identify,
acquire and support our next series of acquisitions is the heart of
our strategy for 2015," said John Rochon
Jr., CVSL's vice chairman and head of its investment
committee.
"As we've refined plans for our 2015 strategy, we decided that
an S-3 registration is the best way to raise any additional capital
in a flexible, event-driven raise that will allow us to use
proceeds for specific acquisitions as they happen, without
the immediate dilution to shareholders contemplated by our
withdrawn S-1 offering."
This press release does not constitute an offer to sell or the
solicitation of an offer to buy securities, and shall not
constitute an offer, solicitation or sale in any jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of that
jurisdiction.
About CVSL
(www.cvsl.us.com)
CVSL is a growing group of micro-enterprise companies that
connect social media networks into an ever-expanding virtual
"community" of social commerce. CVSL companies currently include
The Longaberger Company, a 42-year old maker of hand-crafted
baskets and other home decor items; Your Inspiration At
Home, an award-winning maker of hand-crafted spices and other
gourmet food items from around the world; Project Home, a
direct seller of Tomboy Tools, a line of tools designed for women
as well as home security systems; Agel Enterprises, a global
seller of nutritional products in gel form as well as a skin care
line sold under the Ageless brand, operating in 40
countries; Paperly, which offers a line of custom stationery
and other personalized products; My Secret Kitchen, a
U.K.-based seller of gourmet food products; and Uppercase
Living, which offers an extensive line of customizable vinyl
expressions for display on walls in the home. In addition,
CVSL and Golden Girls, a purchaser of gold and tradable
jewelry, have signed a definitive purchase agreement, which is
subject to customary closing conditions.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that
involve risks and uncertainties. All statements other than
statements of historical fact contained in this press release are
forward-looking statements. We have attempted to identify
forward-looking statements by terminology including "anticipate,"
"believe," "can," "continue," "could," "estimate," "expect,"
"intend," "may," "plan," "potential," "predict," "project,"
"should," or "will" or the negative of these terms or other
comparable terminology. Although we do not make
forward-looking statements unless we believe we have a reasonable
basis for doing so, we cannot guarantee their accuracy. Such
statements include statements regarding our continued growth, the
expected benefits of the S-3 registration statement and the
intended acquisition strategy. These statements are only
expectations and involve known and unknown risks, uncertainties,
and other factors including the risk that the market
opportunities for use of the S-3 will not available when needed,
our growth and acquisition strategy will not occur in the
time periods expected, and the risks outlined under "Risk Factors"
in our Annual Report on Form 10-K for our fiscal year ended
December 31, 2013, our Quarterly
Reports on Form 10-Q, including the Quarterly Report filed with the
Securities and Exchange Commission for the quarter ended
September 30, 2014, and those risks
discussed in other documents we file with the Securities and
Exchange Commission, which may cause our actual results, levels of
activity, performance, or achievements expressed or implied by
these forward-looking statements to differ materially from
expectations. Except as required by law, we undertake no
obligation to update or revise publicly any of the forward-looking
statements after the date of this press release to conform our
statements to actual results or changed expectations.
Contact: Russell Mack
(rmack@cvsl.us.com)
Investor Relations: (scottp@cvsl.us.com)
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/cvsl-files-s-3-shelf-registration-statement-300004559.html
SOURCE CVSL Inc.