UCASU Founder Purchased More Than 3% Outstanding Shares of the Company via a Private Deal
October 15 2020 - 11:02AM
InvestorsHub NewsWire
October 15, 2020 -- InvestorsHub NewsWire -- "Larry" Xianghong
Wu, the founder and major general partner of UC Asset LP (OTCQX:
UCASU) filed a Form 4 to report his purchase of 172,953 common
units of UCASU, which accounts for 3.2% of all issued and
outstanding shares of the company, through a private deal which was
closed on October 07, 2020.
The filing of Form 4 was delayed due to the SEC process of
acquisition of an Edgar code for the filer.
"I started the company 4 years ago with the goal to build it
into a billion-dollar business listed on a major exchange, such as
NASDAQ or NYSE," states Larry Wu. "We are much closer to that goal
than we were 4 years ago, and I personally am much more confident
in the enterprise value of our business than I was 4 years
ago."
The seller of those shares is not disclosed in SEC filings. But
the company indicates it is one of the early round investors who
has a need to liquidate his holdings out of personal reasons.
"I bought those shares because I have faith in the future of our
company. I plan to hold a majority part of those purchased shares
for a long term, and I intend to buy more shares of UCASU if there
will be similar opportunities," says Larry Wu.
About UC Asset LP
UC Asset LP is a limited partnership formed for the purpose of
investing in real estate for development and redevelopment,
concentrating in metropolitan areas of Atlanta, GA and Dallas, TX.
For more information about UC Asset, please visit: www.ucasset.com
Disclaimer:
This News Release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements involve known and unknown risks,
uncertainties and other important factors that could cause our
actual results, performance or achievements, or industry results,
to differ materially from any these statements. You are cautioned
not to place undue reliance on any those forward-looking
statements. Except as otherwise required by the federal securities
laws, we undertake no obligation to publicly update or revise any
forward-looking statements after the date of this news release.
None of such forward-looking statements should be regarded as a
representation by us or any other person that the objectives and
plans set forth in this News Release will be achieved or be
executed.
View source version on businesswire.com: https://www.businesswire.com/news/home/20201015005695/en/
Contacts
Christal Jordan | Investor Relations Director, UC Asset LP
cjordan@ucasset.com | 678-499-0297
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