IPO - Old Glory Holding Co

Form Type: CORRESP

Filing Date: 2024-11-26

Corporate Action: Ipo

Type: Update

Accession Number: 000149315224047751

Filing Summary: Old Glory Holding Company submitted a response letter to the SEC addressing inquiries related to their issuance of Class B Common Stock. The letter emphasizes their intention to sell shares rather than test the waters, confirming that they are ready to proceed pending SEC qualification. Notable amendments to their Form 1-A were made regarding their Bank's privacy commitments, clarified waivers concerning jury trials in their Subscription Agreement, and enhanced descriptions of business operations. The company detailed their capital-raising plan, requiring $35 million to meet compliance with the leverage ratio, and indicated no significant material effects on operations from compliance actions. They also provided insight into the accounting treatment of previous warrants issued and their plans for future capital raises, while reiterating their commitment to maintaining customer service and growth.

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