Citizens Capital Corp. Announces $11,136,300 Discounted Remarketing of Series 2010A; 7%; 144A Bonds
May 15 2012 - 7:59AM
Marketwired
Citizens Capital Corp. (the "Company") (PINKSHEETS: CAAP) announced
today that Citizens Capital Corp. ESOP Trust ("CCC ESOP Trust"), a
direct affiliate of Citizens Capital Corp., intends, subject to
market and other conditions, to re-market $30 million; Citizens
Capital Corp.; Series 2010A; 7%; $1,000 par value; Convertible;
Callable; Secured; 144A Bonds due 2020 (the "Series 2010A Bonds")
(CUSIP 174445AA4). The Series 2010A Bonds are priced at a discount
from par of $371.21 and are thus being re-marketed at $628.79 per
each 30,000; $1,000 par value amount for an aggregate re-marketed
value of $18,863,700. Citizens Capital Corp. will pay interest on
the Series 2010A Bonds semi-annually on June 15 and December 15 of
each year. The Series 2010A Bonds are governed by Series Indenture
dated December 28, 2009 and is supplemented by the First Supplement
to the Series Indenture dated December 31, 2009. The Series 2010A
Bonds are a debt obligation of Citizens Capital Corp.
Citizens Capital intends to use the net proceeds from the
re-marketing of the Series 2010A Bonds to: (i) fund and facilitate
the growth of subsidiary products and services; (ii) fund its roll
up acquisition initiatives as executed by itself and/or its
subsidiary units; (iii) fund the current purchase of studio and IP
broadcast equipment related to its Media Force Sports &
Entertainment Inc. subsidiary unit; (iv) fund the current
acquisition and construction cost of downtown Dallas, Texas
commercial building purposed for mixed use, redevelopment; (v) for
working capital and general corporate purposes.
The available Series 2010A Bonds will be re-marketed in the
United States only to Qualified Institutional Buyers (QIBs)
pursuant to Rule 144A of the Securities Act of 1933, as amended,
and to certain non-U.S. persons in accordance with Regulation S
under the Securities Act of 1933, as amended. The Series 2010A
Bonds have not be registered under the Securities Act or any state
securities laws and may not be sold without registration unless an
exemption from the requirements of registration is available.
This notice is being issued pursuant to Rule 135c under the
Securities Act, and is neither an offer to sell nor a solicitation
of an offer to buy any securities.
About Citizens Capital Corp.
Citizens Capital Corp. is a Dallas, Texas based emerging growth,
diversified, acquisition oriented holding company. The Company
seeks to maximize shareholder value by acquiring and/or internally
developing those operating entities, assets and/or marketing rights
which may provide the Company and its shareholders with an entrance
into new market segments or serve as a complimentary addition to
existing operations, assets, products and/or services.
Subsequently, the Company, when appropriate, seeks to maximize
shareholder value by strategically redeploying said operating
entities, assets and/or marketing rights via prorate spinoff to its
registered shareholders of record.
This press release contains forward-looking statements regarding
the future performance of Citizens Capital Corp. within the meaning
of the Private Securities Litigation Reform Act of 1995. These
statements are subject to a variety of risks and uncertainties that
could cause actual results to differ materially from current
expectations. Additional cautionary statements regarding other
"risk factors" that could have an effect on the future performance
of Citizens Capital Corp. are contained in the Company's periodic
reports on file with the Securities and Exchange Commission
("SEC"), including its reports on Forms 10-K, 10-Q and 8-K, if any.
Prior to investing any monies, please read the Company's periodic
reports on Forms 10-K, 10-Q and 8-K, if any, filed with the SEC.
Citizens Capital Corp. undertakes no obligation to release publicly
the result of any revisions to these forward looking statements
that may be made to reflect events or circumstances after the date
hereof or to reflect occurrences of unanticipated events.
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For Further Information Contact: Billy D. Hawkins CEO Telephone:
(469) 359-3868 Email: Email Contact