LA JOLLA, Calif., Oct. 1, 2015 /PRNewswire/ -- Reven Housing REIT, Inc. ("Reven" or the "Company") (OTCBB: RVEN) today announced that it has launched a $28,750,000 Company direct public offering with a proposed NASDAQ up-listing upon completion of the minimum offering. Reven is offering a minimum of 500,000 shares (the "minimum offering") and a maximum of 5,000,000 shares (the "maximum offering") of its common stock at $5.75 per share.
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All funds paid by subscribers will be deposited in an escrow account with US Bank as escrow agent. If subscriptions for shares for the aggregate gross offering proceeds of $2,875,000 have been received by the escrow agent by October 30, 2015, subject to Reven's right to extend for up to 60 days, and, in addition, prior to such date Reven has received from The NASDAQ Capital Market notice of its approval of the listing of Reven's common stock upon completion of the minimum offering, then the minimum offering will close. If the Company does not achieve the minimum offering proceeds and NASDAQ approval by such date, then the offering will terminate and the escrow agent will promptly return to each subscriber all funds provided by such subscriber without interest or deduction.
Please email Reven at info@revenhousingreit.com or call the Company at (858) 459-4000 if you have any questions. You may also obtain a written prospectus for the offering by contacting the Company at the foregoing email address and phone number or by writing to the Company at Reven Housing REIT, Inc., ATTN: Investor Relations Manager, 7911 Hershel Avenue, Suite 201, La Jolla, California 92037.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
About Reven Housing REIT, Inc.
Reven Housing REIT, Inc. engages in the acquisition and ownership of portfolios of occupied single family rental properties in Florida, Georgia, Mississippi, Tennessee and Texas and intends to expand throughout the United States.
