CAPE CORAL, Fla., Nov. 10, 2014 /PRNewswire/ -- Tigrent Inc. and
Priced In Corp. (OTCBB: PRCD) jointly announced today that they had
closed on a transaction whereby Priced in Corp. acquired the
business of Tigrent Inc. in exchange for an 80% percent interest in
Priced In Corp., which changed its name to Legacy Education
Alliance, Inc. as part of the transaction. Prior to this
acquisition, Priced In Corp. did not have any material assets.
"We are pleased that we have been able to consummate this
transaction," said Anthony C.
Humpage, the newly appointed Chief Executive Officer of
Legacy Education Alliance. "We look forward to leveraging
this transaction to facilitate our future growth and development
plans."
In accordance with the terms of an Agreement and Plan of Merger
dated as of November 10, 2014 (the
"Merger Agreement"), by and among Priced In Corp., a subsidiary of
Priced In Corp., Tigrent Inc. and Legacy Education Alliance
Holdings, Inc. ("Legacy Holdings"), a wholly owned subsidiary of
Tigrent, the subsidiary of Priced In Corp. was merged with and into
Legacy Holdings (the "Merger"). In exchange, Priced In Corp. issued
16,000,000 shares of its Common Stock to Tigrent Inc., resulting in
Tigrent holding approximately 80% of the issued and outstanding
shares of Priced In Corp. There was no cash consideration
exchanged in the Merger. Priced in Corp also assumed certain
obligations of Tigrent.
All of the shares of Common Stock issued to Tigrent Inc. as
described above are restricted securities, as defined in paragraph
(a) of Rule 144 under the Securities Act of 1933, as amended (the
"Securities Act"). All such securities were issued pursuant to an
exemption from the registration requirements of the Securities Act,
under Section 4(2) of the Securities Act and the rules and
regulations promulgated thereunder.
Special Note Regarding Forward Looking
Statements
This press release includes certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995 relating to, among other things, the future performance of
Legacy Education Alliance, Inc. and its consolidated subsidiaries.
These statements include, but are not limited to, statements
regarding future growth and expansion, possible strategic or
capital transactions including, but not limited to, any possible
merger, consolidation, reorganization, capitalization, or other
transaction contemplated as part of the Company's efforts to raise
capital for growth and development purposes. These statements
involve known and unknown risks, uncertainties and other factors
that may cause actual outcomes or results to be materially
different from any future outcomes or results expressed or implied
by these forward-looking statements.
SOURCE Legacy Education Alliance, Inc.; Tigrent Inc.