As previously announced, HCMC intends to spin off its wellness-based subsidiaries, namely its 14 natural and organic health food stores, wellness center and online entity at TheVitaminStore.com. The HCWC common stock will be distributed through a dividend to owners of record of HCMC on a date to be determined. The dividend will be on a pro rata basis based on the ownership of HCMC on said record date with certain conditions. HCMC shareholders will not forfeit any of their HCMC common stock.
The IPO is for 400,000 shares of Class A common stock to be issued by HCWC. The underwriters will also be granted a 30-day option to purchase up to an additional 60,000 shares at the IPO price, less underwriting discounts, and commissions. HCMC anticipates that it will distribute approximately 1,880,000 shares of HCWC Class A common stock and 7,520,000 shares of HCWC Class B common stock in the spin-off. The HCWC Class A common stock will be freely tradable upon issuance. For a period of 90 days following the Spin-Off (the “Lock Up Period”), HCWC’s Class B stockholders will be restricted from selling, disposing of, or hedging any shares of this Class B common stock. Upon the expiration of the Lock Up Period, the Class B common stock will automatically convert into Class A common stock which will also be freely tradable without restriction or further registration under the Securities Act of 1933, as amended (the "Securities Act").
HCWC is in the application process to list its common stock on the NYSE American Exchange under the symbol “HCWC.” Upon completion of the IPO and the spin off, HCMC will not own any capital stock of HCWC.
Following the spin off, HCMC will continue to own its entire patent suite, in both
A registration statement (Registration No. 333-274435) on Form S-1 relating to these securities has been filed with the
About Healthier Choices Management Corp.
Through its wholly owned subsidiary
About
Through its wholly owned subsidiaries, HCWC operates:
- Ada’s Natural Market, a natural and organic grocery store offering fresh produce, bulk foods, vitamins, and supplements, packaged groceries, meat and seafood, deli, baked goods, dairy products, frozen foods, health & beauty products, and natural household items (www.Adasmarket.com)
- Paradise Health & Nutrition’s three stores that likewise offer fresh produce, bulk foods, vitamins and supplements, packaged groceries, meat and seafood, deli, baked goods, dairy products, frozen foods, health & beauty products, and natural household items, (www.ParadiseHealthDirect.com)
- Mother Earth’s Storehouse, a two-store organic and health food and vitamin chain in New York’s
Hudson Valley , has been in existence for over 40 years. (www.MotherEarthStorehouse.com) - Greens Natural Foods’ eight stores in
New York andNew Jersey , offering a selection of 100% organic produce and all-natural, non-GMO groceries & bulk foods; a wide selection of local products; an organic juice and smoothie bar; a fresh foods department, which offers fresh and healthy “grab & go” foods; a full selection of vitamins & supplements; as well as health and beauty products (www.greensnaturalfoods.com)
Through its wholly owned subsidiary,
This center offers multiple vitamin drip mixes and intramuscular shots for clients to choose from that are designed to help boost immunity, fight fatigue and stress, reduce inflammation, enhance weight loss, and efficiently deliver antioxidants and anti-aging mixes. Additionally, there are IV vitamin mixes and shots for health, beauty, and re-hydration. (www.HealthyChoiceWellness.com)
Through its wholly owned subsidiary, Healthy U Wholesale, HCWC sells vitamins and supplements, as well as health, beauty, and personal care products on its website www.TheVitaminStore.com.
Forward Looking Statements.
This press release contains forward-looking statements within the meaning of that term in the Private Securities Litigation Reform Act of 1995 (Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934). Additional written or oral forward-looking statements may be made by HCWC and HCMC from time to time in filings with the
Factors that may affect our future results of operations and financial condition include, but are not limited to, fluctuations in demand for our products, the introduction of new products, our ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of our liquidity and financial strength to support its growth, and other information that may be detailed from time-to-time in our filings with the
Contact Information:
3800 North 28TH Way, #1
305-600-5004
Email: ir@hcmc1.com
Source:
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