UC Asset Raised $300,000 of Capital to Increase Net Equity Per Share

ATLANTA–()–UC Asset LP (OTCQX: UCASU)’s management announced that the company had closed a private placement, under which the company issued a number of shares of Series A Preferred Units to raise capital of $300,000, from an undisclosed domestic source.

“This is a significant move because, it is the first time we raised capital from a US accredited investor,” said Larry Wu, founder of UC Asset. “Our company is founded with global capital, mostly from China, including some US residents who were immigrants from China. This time, not only the investor has no Chinese legacy, but also, he is a very experienced investor on US public markets.

“It means that our company has attracted attention from accredited US investors who are active on public markets,” stated Larry Wu, adding that the investor approached the company and made the initial offer without being solicited.

“He has been following the company and stayed in touch with the management for a while. But we didn’t expect an offer from him,” said Larry. “We are very pleased that he showed a great confidence into our business model.”

Larry believes that the new attention is related to the fact that UC Asset is traded on OTCQX, where global giants like Adidas (OTC: ADDYY), Heineken (OTC: HEINY), and Air Canada (OTC: ACDVF) are also quoted. Furthermore, UC Asset is the only MLP (Master Limited Partnership) on OTCQX engaging real estate investment. Being an MLP allows UC asset to pursue a Warren Buffett style strategy, focusing on long-term value-appreciation assets like Berkshire Hathaway (NYSE: BRK.A) will do.

The Company issued this Series A Preferred Units with a premium, in sense that the price for the preferred shares to be converted into common units is considerably higher than the net equity per unit. The issuance of Series A Preferred Units, therefore, will likely increase the company’s net equity per unit, and benefit existed shareholders.

“In fact, our by-law prohibits us from issuing shares at a discount of net equity per share,” said Larry Wu. “So it will always benefit exited shareholders whenever we issue new shares, either through a private placement, a public offering, or a merge and acquisition.”

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.

Leave a Reply