LA JOLLA, CA -- February 22, 2016 -- InvestorsHub NewsWire --
Reven Housing REIT, Inc. ("Reven" or the "Company") (OTCBB:
RVEN) today announced that it has commenced a $28.75 million
offering of its common shares. The Company is conducting a
direct public offering of a minimum of 2,610,000 shares and maximum
of 5,000,000 shares of its common stock, at $5.75 per share, for
total gross proceeds of $15,007,500 in the minimum offering and
$28,750,000.00 in the maximum offering.
![Reven Housing REIT Logo Reven Housing REIT Logo](http://photos.prnewswire.com/prnvar/20141107/157379LOGO)
The offering is being conducted in connection with the Company's
proposed up-listing to the NASDAQ Capital Markets. All funds
paid by subscribers in the offering will be deposited in an escrow
account with U.S. Bank, N.A., as escrow agent. Unless
subscriptions for shares for the aggregate gross offering proceeds
of $15,007,500 have been received by the escrow agent by March 31,
2016, subject to the Company's right to extend by up to 60 days,
and, in addition, by such date the Company has received from the
NASDAQ Capital Market notice of its approval of the listing of the
Company's shares upon completion of the minimum offering, the
offering will terminate and the escrow agent will promptly return
to each subscriber all funds provided by such subscriber without
interest or deduction.
The offering is being conducted pursuant to a Registration
Statement on Form S-11 which was declared effective by the SEC on
February 11, 2016. Interested parties may download a copy of
the Prospectus made part of the Registration Statement from the
Company's website at www.revenhousingreit.com, under
"Public Offering", or obtain a print copy of the Prospectus by
contacting the Company at info@revenhousingreit.com or by telephoning at (858)
459-4000.
In order to subscribe, parties should first carefully and
thoroughly review the Prospectus and, if after reviewing the
Prospectus interested in subscribing, complete and execute a
Subscription Agreement. A copy of the Subscription Agreement
and instructions for investing can be downloaded from the Company's
website at www.revenhousingreit.com, under
"Public Offering".
For further information, please contact Reven Housing REIT, Inc.
at:
Mailing Address
P.O. Box 1459
La Jolla, CA 92038-1459
Corporate Address
Anne Sugden, Investor Relations Manager
875 Prospect Street, Suite 304
La Jolla, CA 92037
858 459-4000
info@revenhousingreit.com
www.revenhousingreit.com