SAN DIEGO -- Fresh Healthy Vending International Inc. said it has completed several transactions that position it as a publicly traded company on the OTC Markets under the ticker symbol VEND.
Through a "reverse acquisition," the healthy vending franchisor acquired the assets of its parent company, FHV Holdings Corp., and sold 2,788,369 shares of its common stock in exchange for gross proceeds totaling $1.2 million. The transaction positions FHV Holdings Corp.'s subsidiary Fresh Healthy Vending LLC as the acquiring company for future financial reporting purposes.
FHV chief executive Alex Kennedy said the company's decision to become publicly traded company and raise funds from a new group of investors increase its visibility with public capital markets.
San Diego-based Fresh Healthy Vending International Inc. is an operator and franchisor of "healthy" vending machines. It reportedly has more than 205 franchisees throughout North America, Puerto Rico and the Bahamas. Click here to see how the company's stock is performing.
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