Following Recent Rights Issue Healthier Choices Management Could be in Focus
Before delving into some of the recent events with regards to Healthier Choices Management Corp (OTCMKTS:HCMC), it is important for investors to get a better idea about the company and its business.
As the name of the company suggests, Healthier Choices Management Corp is involved in providing people with healthier options when it comes to daily life choices. To that end, it is necessary to point out that the company owns a range of patents that have been issued in Canada and the United States.
These patents are mainly focused on different aspects of vaping technology. However, the company is focused on producing innovative products and hopes to expand its intellectual property in the coming years.
Last week, Healthier Choices Management Corp announced that it completed the filing of a registration statement on Form S-1 and submitted it to the Securities and Exchange Commission.
The purpose of the filing was a right offering to the existing shareholders in the company. According to the prospectus published by Healthier Choices Management Corp, existing shareholders are going to be awarded 1 rights share of the common stock for each block of 4 shares held.
The share can be purchased by the shareholder at a discount of 25% from the volume-weighted average of the stock price for five consecutive trading days on OTC Pink Sheets ending on the day of the issue.
After this announcement was made by the company, the Healthier Choices Management Corp experienced a strong rally over a fair number of trading sessions. While this was significantly positive news for many of the company’s shareholders, Healthier Choices Management Corp had made another major announcement towards the end of last month.
Back on March 29, the company announced that it decided to launch its vitamins and associated supplements store again. According to eh press release that was put out by the company, the products are going to be made available through TheVitaminStore.com. After the company completed the acquisition of three Paradise Health & Nutrition outlets, it got this online store as well as part of the deal.
Lastly, it might be a good idea for investors to remember that the Healthier Choices Management Corp stock showed great resilience earlier this month. The company filed a lawsuit against tobacco giant Phillip Morris last year with regards to a patent infringement. However, despite the filing of a motion to dismiss from Phillip Morris, the Healthier Choices Management Corp stock remained resilient. It indicates that the company’s investors are confident about the direction of the case.
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