Invech Holdings, Inc. (OTC PINK: IVHI) has signed a $10 million USD S-1 ELOC financing agreement, as disclosed in an 8-K filing with the Securities and Exchange Commission. The company, which specializes in SaaS and general application development, plans to allocate at least 60% of the funds to real estate acquisitions for long-term and short-term rentals, and approximately 10% to the growth of its new platform, paragonrentals.ai.
CEO and majority owner Alexander M. Woods-Leo stated, “This financing agreement is our long term strategy to growing our company.” The company plans to disclose a full use-of-funds schedule upon filing the S-1, emphasizing a balanced balance sheet and cash flows.
In a move to address shareholder concerns about dilution, Invech announced a “no nonsense dilution awareness” initiative. The majority holder plans to retire shares equal to each drawdown from the ELOC. For example, if management draws $100,000 and issues 1,000,000 shares at $0.10 per share, an equal number of shares owned by management will be returned to treasury. Additionally, shares issued upon conversion of a recent debt note for paragonrentals.ai (10 million shares) and a prior management note (2 million shares) will be matched by retiring shares from the majority holder. In total, up to 42 million shares of common stock owned by Alexander M. Woods-Leo are dedicated to returning to treasury.
Furthermore, management is seeking to change the Preferred A share class designation to eliminate the conversion preference entirely, instead granting an 80% voting right regardless of common and preferred shares outstanding. This change aims to provide assurance of value over dilution.
The company also highlighted its new social media presence on X (formerly Twitter) at @InvechHoldings and an updated website at invechholdings.com for periodic updates on acquisitions and developments.
Invech Holdings provides FINRA corporate filings, drafting services, and OTC Markets disclosure statements, in addition to software development in the SaaS space.
