CAPE CORAL, Fla.--(BUSINESS WIRE)--Legacy Education Alliance, Inc. (OTCQB: LEAI) (www.legacyeducationalliance.com), a leading international provider of practical, high-quality, and value-based educational training on the topics of personal finance, entrepreneurship, real estate, and financial markets investing strategies and techniques, addresses the recent announcement from its majority shareholder, Tigrent Inc. in which Tigrent announced plans to distribute substantially all of its holdings in LEAI to Tigrent shareholders.
Approximately 16 million shares of LEAI common stock will be distributed thereby increasing LEAI’s public float significantly, ultimately allowing for more efficient trading of the Company’s stock. Tigrent has been the majority shareholder of Legacy since November 2014 and currently owns approximately 73% of the issued and outstanding common shares of Legacy. The distribution by Tigrent is anticipated to be completed around November 11, 2016.
“This is a great opportunity for us to diversify Legacy’s investor base,” stated Anthony Humpage, CEO of LEAI. “With our global expansion continuing to gain momentum, a larger base of individual investors provides a solid foundation from which to grow shareholder value.”
About Legacy Education Alliance, Inc.
Legacy Education Alliance, Inc. (http://www.legacyeducationalliance.com) is a leading international provider of practical, high-quality, and value-based educational training on the topics of personal finance, entrepreneurship, real estate, and financial markets investing strategies and techniques. Legacy Education Alliance was founded in 1996, today we are a global company with approximately 200 employees that has cumulatively served more than two million students from more than 150 countries and territories over the course of our operating history.
We offer our training through a variety of brands including Rich Dad® Education; Rich Dad® Stock Education; Making Money from Property with Martin RobertsTM; Brick Buy BrickTM; Building Wealth; Robbie Fowler Property AcademyTM; Women in WealthTM; The Independent WomanTM; Trade Up Investor EducationTM; and Elite Business StarTM. For more information, visit our website at www.legacyeducationalliance.com.
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act") (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). Statements preceded by, followed by or that otherwise include the words “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan,” “project,” “prospects,” “outlook,” and similar words or expressions, or future or conditional verbs such as “will,” “should,” “would,” “may,” and “could” are generally forward-looking in nature and not historical facts. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements to be materially different from any anticipated results, performance or achievements. The Company disclaims any intention to, and undertakes no obligation to, revise any forward-looking statements, whether as a result of new information, a future event, or otherwise. For additional risks and uncertainties that could impact the Company’s forward-looking statements, please see the Company’s Annual Report on Form 10-K (including but not limited to the discussion under “Risk Factors” therein) filed with the SEC on March 28, 2016 and which may be viewed at http://www.sec.gov.