NEW YORK, July 23, 2008 (PRIME NEWSWIRE) -- International Assets Holding Corporation ("the Company") (Nasdaq:IAAC) announced today that it has filed a shelf registration statement with the Securities and Exchange Commission for the potential offering from time to time of up to $150 million in common stock. The Company does not have any commitments or immediate plans to sell securities under the registration statement. Unless indicated otherwise in the applicable prospectus supplement, the Company expects to use any net proceeds from the sale of the common stock for general corporate purposes, including, but not limited to, expanding the Company's existing businesses, repaying or refinancing debt, and acquiring additional businesses. Banc of America Securities LLC is expected to act as sole book-running manager for any offering associated with the above mentioned registration statement.
After the registration statement is declared effective by the Securities and Exchange Commission, the common stock may be offered for sale from time to time directly or through underwriters at amounts, prices and other terms to be determined at the time of any offering. The Company will provide a prospectus supplement that will contain specific information about the terms of each offering at the time of the offering.
The registration statement also covers possible future sales of up to 200,000 shares of common stock by the selling stockholders named in the registration statement. The Company will not receive any of the proceeds from such sales by the selling stockholders.
The registration statement, filed on Form S-3 with the Securities and Exchange Commission, has not yet been declared effective. The common stock may not be sold, nor may offers to buy the common stock be accepted, prior to the time the registration statement becomes effective. Any offering of common stock covered by the registration statement will be made only by means of a written prospectus and prospectus supplement.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the common stock in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About International Assets Holding Corporation
International Assets Holding Corporation and its subsidiaries form a financial services group focused on select international securities, foreign exchange and commodities markets. The Company commits its capital and expertise to market-making and trading of international financial instruments, currencies and commodities. The Company's activities are currently divided into five functional areas -- international equities market-making, international debt capital markets, foreign exchange trading, commodities trading and asset management.
The International Assets Holding Corporation logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=5024
Forward-Looking Statements
Certain statements in this document may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond the Company's control, including adverse changes in economic, political and market conditions, losses from the Company's market-making and trading activities arising from counterparty failures and changes in market conditions, the possible loss of key personnel, the impact of increasing competition, the impact of changes in government regulation, the possibility of liabilities arising from violations of federal and state securities laws and the impact of changes in technology in the securities and commodities brokerage industries. Although the Company believes that its expectations with respect to the forward-looking statements are based upon reasonable assumptions, there can be no assurances that the actual results, performance or achievement of the Company will not differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements.