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Rego Payment Architectures, Inc. announces completion of its $25 million Series B preferred equity financing
Rego Payment Architectures, Inc.
completes its private placement of Series B preferred shares, increasing total capital raised to more than $100 million.
BLUE BELL, Pa., May 17, 2024 (GLOBE NEWSWIRE) — Rego Payment Architectures, Inc. (“REGO”) (OTCQB: RPMT), announced today that it has raised an additional $3.5 million through the private placement of 38,889 shares of the company’s Series B Preferred Stock, which completes its $25 million Series B Preferred Stock offering.
Peter S. Pelullo, CEO of REGO, said: “The completion of our Series B preferred stock offering brings the total capital raised by REGO to more than $100 million. This latest investment, combined with our $20 million line of credit availability, provides the financial path forward to execute our 2024 corporate and strategic goals.”
For more information about REGO, visit www.regopayments.com
About REGO
(“REGO”) provides a family-friendly digital wallet platform that empowers financial institutions to enable their customers’ children to spend, save, donate and invest in a safe, parent-controlled environment. Founded in 2008, REGO provides the only family digital wallet platform certified by COPPA (Children’s Online Privacy Protection Act) and compliant with the third-party GDPR (General Data Privacy Regulation). REGO has also received several patents related to the security of parent and child data, including age verification of users. Built from the ground up to protect children’s data privacy, REGO offers financial education tools for parents to teach their children to be smarter buyers, savers, givers and investors. Financial institutions of all sizes can offer a familiar digital wallet product through REGO as a white-label standalone app or fully integrated into their existing app.
Safe Harbor Declaration
The information contained in this press release may contain forward-looking statements about REGO’s current expectations and projections about future events. These forward-looking statements are not guarantees and are subject to known and unknown risks, uncertainties and assumptions about REGO that may cause actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from REGO’s expectations include, but are not limited to: REGO’s ability to raise additional capital, the absence of any relevant operating history or revenue, REGO’s ability to attract and retain qualified personnel, the ability to develop and introduce new services and products to the market in a timely manner, market acceptance of REGO’s services and products, REGO’s limited experience in the industry, ability to successfully develop licensing programs and generate business, rapid technological change in relevant markets, unforeseen network outages or security breaches, changes in demand for current and future intellectual property rights, legislative, regulatory and competitive developments, intense competition with larger companies, general economic conditions and other risks described by REGO in Item 1.A “Risk Factors” in REGO’s most recent Form 10-K, other risks to which REGO is subject and other factors beyond REGO’s control.
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All subsequent written and oral forward-looking statements attributable to REGO, or to persons acting on behalf of REGO, are expressly qualified in their entirety by the foregoing. REGO is under no obligation and undertakes no obligation to update, revise or correct any of these forward-looking statements after the date of this press release.
Media Contact:
Pawan Murthy
Marketing director
Rego Payment Architectures, Inc.
pawan@regopayments.com
