Investview buys back 11.49% of shares from founders for $2.9M; outstanding reduced to 2.33B

Investview, Inc.

Purchased 302,919,223 shares (11.49% of outstanding) from founders Mario Romano and Annette Raynor for $2,922,380 ($0.00965/share).
Outstanding shares reduced from 2,636,275,719 to 2,333,356,496; CEO calls buyback opportunistic.
Purchase price paid via 8 quarterly promissory note payments; first payment due within 7 days.
Founders received $250,000 expense allowance and up to $20,000 legal fees; agreed to standstill and release.
Founders resigned as consultants and waived future indemnification from the company.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Investview, Inc. entered into Stock Purchase and Release Agreement with Mario Romano, Annette Raynor, and a series of their family members and related entities valued at $2,922,380 (effective 2023-09-18).

Action: entry
Agreement: equity purchase
Counterparty: Mario Romano, Annette Raynor, and a series of their family members and related entities
Value: $2,922,380
Effective: 2023-09-18

Exact text from the filing

Investview, Inc. (the “Company”) closed on the purchase in a private transaction of shares of its common stock under the terms of a Stock Purchase and Release Agreement dated September 18, 2023 (the “Agreement”). Under the Agreement, the Company purchased for surrender in a series of private transactions, an aggregate of 302,919,223 shares of the Company’s common stock (the “Purchased Shares”) from sellers consisting of Mario Romano, Annette Raynor, and a series of their family members and related entities (collectively, the “Sellers”). The Purchased Shares were purchased for aggregate consideration of $2,922,380, representing a price of $0.00964739 per share.

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Investview, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-035608

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