LGBTQ Loyalty Holdings, Inc. announced that it expects to receive $10 million in funding from GHS Investments, LLC
September 28, 2021
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LGBTQ Loyalty Holdings, Inc. announced that it has entered into a securities purchase agreement with returning investor GHS Investments, LLC for a private placement of common shares for gross proceeds of up to $10,000,000 on September 29, 2021. The company has the right in its sole discretion for a period of the twenty-four-month period from the date of the agreement to sell common stock. Each closing shall be for at least $10,000 of common stock and shall not exceed the lesser of $500,000 of common stock, 250% of the average daily trading volume for the common stock during the ten trading days preceding such closing date and 4.99% of the then total outstanding number of shares of common stock of the company. The issue price will be fixed price per share equal to eighty percent of the lowest volume weighted average price during the twenty-trading day period immediately preceding, but not including the date the registration statement is filed, subject to a trading price floor. The company will issue securities pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended and Rule 506 promulgated thereunder. The purchase price for the Common Stock is a fixed price per share equal to eighty percent of the lowest volume weighted average price during the twenty-trading day period immediately preceding, but not including the date the registration statement is filed, subject to a trading price floor. However, pursuant to the terms of the SPA, the purchase price for the Common Stock is a price per share equal to eighty percent of the lowest volume weighted average price during the ten consecutive Trading Day period immediately preceding the applicable Closing, with no trading floor. The 20-day trading period has been changed to 10-day trading period.
LGBTQ Loyalty Holdings, Inc. is a financial methodology and media company. The Company is focused on unlocking the purchasing power of the LGTBQ community globally by offering a LGBTQ Index and core ETF portfolio that attract institutional investors and corporations. It provides the Loyalty Preference Index (the Index ETF), branded as the LGBTQ100 ESG Index, which is an environmental, social, and governance (ESG) Index. Its LGBTQ100 ESG Index integrates lesbian, gay, bisexual, transgender, and questioning (LGBTQ) community survey data into the methodology for a benchmark listing of the nations financially performing large-cap publicly listed corporations. The Index ETF provides the LGBTQ community and their allies with various Fortune 500 companies that support and implement diversity, inclusion, and equality policies within their organizations. The Company, through its wholly owned subsidiary, Loyalty Preference Index, Inc. (LPI), provides an index for the LGBTQ + ESG100 ETF.