Los Angeles, CA -- (ReleaseWire) -- 03/31/2014 -- Okra Restaurant Group, Inc. (the "company") (OKRA) announced today it's filing of Form D with the SEC under the new rule 506 C. Under the new rule, the company has fifteen days to file with the SEC after the sale of its first subscription to accredited investors of its newly designated Series A Term Preferred Shares, (the "preferred stock") in a confidential private placement memorandum offering.
Okra Restaurant Group, Inc. intends to partner with Thomas A. Safran & Associates, The City and County of Los Angeles and Local Community Redevelopment Coalitions to complete the Historical Dunbar Hotel project by installing its first Southern style Fast Casual restaurant concept - Red Yam Southern Grille and Bakery, inside the retail space of the multi-million dollar renovation of the Dunbar Village - the brainchild of former Los Angeles City Councilwoman Jan Perry.
As required by the JOBS Act, the new legislation modifies the long-standing limits on issuers of securities in private transactions that prevented such issuers from engaging in the general solicitation regarding those securities. The beneficiaries of the new Reg D legislation will be small, closely held, capital-starved companies that are trying to access growth capital as well as private funding. The new rule offers an alternative to issuers who wish to reach a broader audience, while issuers still have the ability to still do it the old fashioned way and keep things private.
About Okra Restaurant Group, Inc.
Okra Restaurant Group, Inc. is a private, closely-held restaurant and hospitality company. It currently seeks to achieve its investment objective of maximizing total return by investing in upscale, moderately priced Quick Serve Restaurants (QSR) - primarily investing in the Fast Casual Sandwich/BBQ segment with strategically placed outlets, (Red Yam Southern Grille & Bakery) in main stream markets or markets ripe for redevelopment and growth.
--Securities can only be sold to "accredited investors" for which natural persons, who are Investors, who meet certain minimum annual income and net worth thresholds;
--Investing in securities involves risk and investors should be able to bear the loss of their investment;
Okra Restaurant Group, Inc.