ARLINGTON, Va.--(BUSINESS WIRE)--Freedom Capital Corporation, a specialty finance, unlisted, closed-end fund that will elect to be treated as a business development company (the “Company”), announced that it filed its initial registration statement with the Securities and Exchange Commission on March 3, 2015.
The Company, once its registration statement becomes effective, will offer continuously up to 50,000,000 shares of its common stock at an initial offering price of $10.00 per share, which price is subject to subsequent adjustment based on changes in the Company’s net asset value per share. The Company expects to commence operations within one year of the commencement of its offering only if by that date it has raised $2.5 million in capital. Offering proceeds will be held in escrow until the earlier of the time when such minimum amount of capital is raised, in which case the Company will receive the proceeds to begin operations, or the first year anniversary of the offering commencement, in which case investors will be returned their share subscription amounts without deduction or interest.
The Company is managed by Freedom Capital Investment Advisors, LLC (“FCIA”), a newly formed business.
Democracy Funding, LLC, which is an affiliate of FCIA, will serve as the dealer manager for the Company’s offering and will engage selected dealers to effect the Company’s offering.
The Company intends to make investments in small and middle-market private U.S. companies in accordance with stated investment objectives and strategies, which strategies include screening the Company’s investments according to FCIA’s application of Patriotic Responsible Investing (“PRI”) principles. PRI principles will cause the Company to direct its capital investments toward entities that through their commercial endeavors provide for and enhance the sovereign and economic security and freedom of the United States and its allies. Entities that fit within the PRI framework typically provide the United States and its allies one or more of the following benefits: (i) independence from foreign political and economic coercion, (ii) freedom to pursue constitutionally protected activities, (iii) protection from foreign state sponsored and private acts of terror, (iv) ability to obtain data and intelligence to defeat acts of war, terror or aggression, (v) defense against acts of war and aggression, and (vi) facilitation of a democratic economy where capital is allocated without undue social or bureaucratic intervention.
ABOUT FREEDOM CAPITAL INVESTMENT ADVISORS, LLC
FCIA believes that a left-liberal bias exists in today's investment marketplace that unfairly raises the cost of capital for businesses that assist or are the guardians of American freedoms. PRI involves FCIA’s subjective analysis and judgment to discern suitable investment opportunities for the Company. FCIA is not presently registered as an investment advisor due to available registration exemptions and exclusions under applicable federal and state laws and regulations.
Investors are advised to consider the investment objectives, risks, and charges and expenses of Freedom Capital Corporation (the “Fund”) carefully before investing. A prospectus for the Fund contains this and other information about the Fund. A prospectus for the Fund may be may downloaded from the SEC.gov website: http://www.sec.gov/Archives/edgar/data/1617572/000089109215001843/e62871n2.htm. The prospectus should be read carefully before investing.
Subject to Completion: The information contained in our prospectus and this press release is not complete and may be changed. We may not sell our securities until our registration statement filed with the Securities and Exchange Commission is effective. Our prospectus and this press release are not offers to sell our securities and are not soliciting an offer to buy our securities in any state where the offer or sale is not permitted.