UC Asset Files Form 10 And Considers Secondary Public Offering at $2.50/Unit

ATLANTA--(BUSINESS WIRE)--UC Asset LP (OTCQX: UCASU) management announced the company filed its Form 10 on September 18, to transition from a Regulation A plus (“Reg A+”) reporting company to a fully reporting company. The conversion will automatically become effective after 60 days of the filing of its Form 10.

“We believe becoming a fully reporting company will lay the foundation for further growth, enable our shareholders and empower the company with more options and tools in financing,” says Christal Jordan, Executive Director of Investor Relations.

“For our shareholders, this conversion will allow more brokerage firms to accept share deposits from UC Asset’s private round and IPO round shareholders,” Jordan explains. “Meanwhile, it will get our company closer to conduct public offerings by registration with SEC.”

“UC Asset made its initial public offering (IPO) in October 2018, using Reg A+, which is an exemption from registration for public offering. But public offerings under Reg A+ are subject to limits on its amount and scope. A registered public offering will allow a company to raise more funds and from a broader base of investors,” explains Jordan.

“We haven’t decided on whether we will conduct a registered public offering, but we are proactively looking into this option,” says Greg Bankston, managing partner of UC Asset. “If we may do so in the year of 2021, our new units will likely be offered at a price above our current trading price of $2.36 per share, maybe at $2.50 per share.”

“Our business plans are working and we believe they will make us stand out during and after COVID-19 pandemic,” says Greg Bankston, “The pandemic has caused unfortunate damage to our economy and painful lost to our society, but prepared entrepreneurs like us will also look to rebuild our economy and society and get rewarded by doing so. We have developed several investment tools to help the society, which also have the potential to deliver rewarding returns for our shareholders. We are running some pilot projects. If those projects success, we will feel comfortable to raise more capital by conducting a secondary public offering.”

UC Asset LP has not engaged any investment banker to underwrite its public offering and is looking into a number of options.

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.