Investors Capital Founder Heads For A $19 Million Exit ... But Who's The Buyer?
- Created: Monday, 07 March 2011 22:13
Charles registered the 3.6 million shares he controls -- counting friends and family and friendly foundation shares -- in Investors Capital's holding company for sale last week.
The filing targets a maximum price of $5.275 per share, which would represent at least a 9% discount to its current price of $5.80.
In all, Charles might net up to $19 million from the company he built.
The question is who is buying and why Charles is selling. As reps have noted, Investors Capital got a subpoena about a year ago over its private placement activities along with now-defunct QA3, which saw private placement fines destroy its equity.
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