Citizens Capital Corp. (“Citizens Capital” or the “Company”) today announced that it has reached agreement to acquire Arlington, Texas and near downtown Dallas sites each purposed for an urban themed, mixed use hotel and entertainment complex. In conjunction, Citizens Capital has also commenced the resale of its $30M; Series 2010A; 7%; 144A convertible bonds Due 2020 (the “Series 2010A Bonds”); [CAAP - CUSIP 174445AA4] directly to Qualified Institutional Buyers (QIB’s). The Series 2010A Bonds are actionable on the Marketaxess institutional fixed income, electronic trading platform. By use of an identifier such as issuer name, CUSIP number or ticker symbol, institutional fund managers may directly submit a request for quote (RFQ) or set up customized watch list alerts for a specific bond with full transactional command.
Citizens Capital intends to use net proceeds from the direct institutional resale of its Series 2010A Bonds to: 1) fund initial land acquisition and construction cost related to the stated Arlington and Dallas urban themed, hotel and entertainment complexes; 2); deploy its Media Force Sports & Entertainment (MFSE) mobile TV network nationally; 3) fund additional targeted acquisitions and 4) for general corporate purposes.
This announcement shall not constitute an offer to sell or the solicitation of an offer to buy the Series 2010A Bonds described herein in any jurisdiction in which such offering; solicitation or sale would be unlawful. The Series 2010A Bonds have not been registered under the Securities Act of 1933, as amended (the “Act”) or the securities laws of any jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption thereof. The Series 2010A Bonds are offered publicly, however, said Series 2010A Bonds may only be sold to Qualified Institutional Buyers (QIB’s) in reliance upon Rule 144A under the Act.
Billy D. Hawkins, the CEO of Citizens Capital says “We are actively seeking to add institutional investors. This is a unique fixed income opportunity where qualified institutions and family offices may participate directly with the right to also elect a mix of equity participation. The proposed Arlington and near downtown Dallas development sites establish an institutional class of assets while creating new jobs. We expect recurring revenue streams to be generated from the sale of hotel room nights; residential, office, and retail lease rental income.”
About Citizens Capital Corp.
Citizens Capital Corp. is a Dallas, Texas based acquisition and development oriented holding company. The Company seeks to create fixed income streams for its bondholders and to maximize shareholder value by acquiring and/or internally developing those operating entities, assets and/or marketing rights which may provide the Company and its shareholders with an entrance into new market segments or serve as a complimentary addition to existing operations, assets, products or services.
