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SOURCE: Investment Evolution
Consumer Loan Installment Lender IEG Holdings Corporation (OTC Pink: IACED) announces completion of a 1 for 6 reverse stock split and a name change from Ideal Accents, Inc. to IEG Holdings Corporation.
West Palm Beach, Florida (PRWEB) March 15, 2013
IEG Holdings Corporation (OTC Pink: IACED) announced today it has completed a 1 for 6 reverse stock split and a name change from Ideal Accents, Inc. to IEG Holdings Corporation.
As previously announced, the Company entered into a definitive share exchange agreement with IEG Holdings Limited, an Australian company (“IEG”) to acquire a 100% equity stake in Investment Evolution Global Corporation after giving effect to a 1 for 6 reverse stock split. Upon closing of the transaction, IEG will own approximately 99.1% of the then issued and outstanding common stock of IEG Holdings.
Investment Evolution Global Corporation (“IEGC”) is a Delaware holding company operating through its wholly owned subsidiaries, Investment Evolution Corporation, a Delaware corporation and IEC SPV, LLC, a Delaware limited liability company. IEGC provides $2,000 to $10,000, 3 to 5 year consumer installment loans in the states of Illinois, Arizona, Florida and Nevada under the consumer brand “Mr. Amazing Loans”. Please see the company websites http://www.investmentevolution.com and http://www.mramazingloans.com for more information.
The closing of the acquisition of IEGC was conditioned upon Ideal Accents amending its Articles of Incorporation changing its name to IEG Holdings Corporation, increasing the number of shares of its authorized common stock to 1,000,000,000, $.001 par value, the creation of 50,000,000 shares of “blank-check” preferred stock, effectuating a 1 for 6 reverse stock split of its issued and outstanding common stock and obtaining consent to such corporate actions as my be required by The Financial Industry Regulatory Authority, Inc. ("FINRA").
On Monday March 11, 2013, FINRA effectuated the corporate actions. Accordingly, the closing of the acquisition may be completed this week.
Safe Harbor Statement
IEG Holdings Corporation is hereby providing cautionary statements identifying important factors that could cause our actual results to differ materially from those projected in forward-looking statements (as defined in such act). Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as "will likely result," "are expected to," "will continue," "is anticipated," "estimated," "intends," "plans," "believes" and "projects") may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. These statements include, but are not limited to, our ability to complete the acquisition of IEGC.
We caution that the factors described herein could cause actual results to differ materially from those expressed in any forward-looking statements we make and that investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all of such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.
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