Fast forward to the beginning of December, Murtha and company put out another release detailing financing for the league.
It was also in this release that the league once again confirmed that they were looking to start training camps in April, in preparations for a 2022 season.
Now, we seem to have some more MLFB news via yet another press release.
Essentially it goes into more details on the investment side of things, and outlines their plans to file for a Tier 2 Regulation A offering with the SEC.
To break that all down, A Reg A Tier 2 offering is one of the two offerings allowed under Regulation A. Under the Securities Act of 1933, every company that seeks to offer its securities for sale to the public must either be registered with the Securities and Exchange Commission, or it must qualify to get exempted from registering itself.
If you were worried about the lack of football, it seems your worries can be at rest. Next year we’re going to see the USFL, FCF, CFL and potentially MLFB if all goes as planned.
You can read the full press release from MLFB below:
MLFB Announces a Tier 2 Reg A Offering
LAKEWOOD RANCH, FL / ACCESSWIRE / December 14, 2021 / Frank Murtha, President and CEO of Major League Football, Inc. (OTC PINK:MLFB)
“As previously disclosed, the Company has engaged the services of a well-known and respected investment bank headquartered in New York to assist in pursuing short-term financing of approximately $3 million followed by a planned tiered subsequent raise of approximately $27 million between the end of calendar 2021 and the first calendar quarter of 2022. In addition, our management has been engaged with several high net-worth individuals and funds who have expressed an interest in being part of our League as investors.
The investment bank has recently presented to the Company for its consideration a non-binding Term Sheet from a Fund for a common stock equity line in the amount of $5,000,000 (Five Million Dollars). This is currently being actively reviewed but has not yet been accepted. The Company has continued its discussions with high net-worth individuals and one other Fund interested in investing in the Company. There is no guarantee that the Term Sheet will be consummated into full definitive documents and an eventual funding for the Company but represents a significant step in our Funding process.
In addition the Company has recently retained legal counsel who are preparing filings with the SEC for a Tier 2 Regulation A offering of common stock. This process is currently underway as of the date of the filing of this form 10-Q. There is no guarantee that a Tier 2 Regulation A offering will be consummated and an eventual funding to the Company. This, as well ,is another significant step in the Company’s funding process for its planned 2022 Spring season.