SAN FRANCISCO--(BUSINESS WIRE)--Further diversifying the nature of the cash flows acquired under its brand contract with Vernon Davis, Fantex, Inc. announced it has again exercised its right to co-invest alongside the 49ers Pro-Bowl tight end. On behalf of stockholders of the Fantex Series Vernon Davis Convertible Tracking Stock (OTC: VNDSL) (“Fantex Series Vernon Davis”), the Silicon-Valley based company has acquired a 10% ownership interest in a fourth Jamba Juice franchise.
Under its brand contract with Mr. Davis, Fantex, Inc. has a right to co-invest in certain opportunities presented to Mr. Davis at a percentage equivalent to the brand income Fantex, Inc. has acquired. Investment results from these co-investments will be attributed to Fantex Series Vernon Davis.
In April of this year, Fantex, Inc. announced it had exercised its right to co-invest alongside Mr. Davis and acquired a 10% ownership interest in three Jamba Juice franchises on behalf of Fantex Series Vernon Davis stockholders. The company used cash generated from those investments to purchase its 10% ownership interest in the new location, with investment results again attributed to Fantex Series Vernon Davis.
“Attributing ownership interest in a fourth Jamba Juice franchise to the stockholders of Fantex Series Vernon Davis is a tangible example of how the earning potential of our brand contracts can expand over time,” said Fantex, Inc. co-founder and CEO Buck French.
Based in San Francisco, Fantex Holdings, Inc. serves as the parent company to both Fantex, Inc. and Fantex Brokerage Services, LLC. Fantex, Inc., is a brand building company that purchases a minority interest in earnings from an athlete’s brand and works with athletes to increase the value of their brand. In order to fund the purchase, Fantex, Inc. develops a tracking stock that is linked to the economic performance of the brand. Fantex Brokerage Services is a FINRA-member broker-dealer offering investors access to the unique asset category of stocks, issued by Fantex, Inc., that are linked to the earning potential of individuals - starting with sports.
This communication contains forward-looking statements. Forward-looking statements reflect the current views of Fantex, Inc. with respect to, among other things, future events and performance. These statements include the investment results attributed to brand income described above. This estimate is not intended to be a projection that investment results will be equivalent to this amount. Whether or not brand income is earned by the contract party and received by Fantex is subject to numerous risks and uncertainties, including those described in or incorporated by reference in the prospectus relating to this offering. If one or more of these risks or uncertainties materialize, or if management’s underlying beliefs and assumptions prove to be incorrect, actual results may differ materially from those contemplated by these forward-looking statements. Forward-looking statements speak only as of the date on which they are made. Fantex, Inc. expressly disclaim any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.