Legion Capital, the Orlando-based private equity firm specializing in financial technology, is going public with a “mini-IPO” and hopes to be listed on the NASDAQ stock exchange.
The $5 million public offering comes under new SEC regulations announced in April, with 4 million shares at $1.25 per share. The firm employs about 15 people in Orlando.
Legion Capital was founded by Orlando businessmen James Byrd and Shane Hackett. Its president is J. Bradley Hilton, the grandson of famed hotelier Conrad Hilton.
Legion has also launched a Commission Advance Program, allowing real estate agents, title agents and appraisers and others in the industry to immediately access a majority of fees and commissions due from awaiting real estate transactions.
The Orlando Sentinel reports that Legion’s public offering statement outlines plans to “build and finance companies through such means as crowdfunding, mini IPO’s and other similar activities.”
The company will focus on “alternative investment strategies through a variety of portfolio companies and funds that Legion either owns, manages or holds equity stakes in, and will capitalize and groom these companies for larger scale funding,” said the SEC filing.
Revenue comes from consulting or management fees, as well as equity stakes and venture capital deals.