Value Financial Services Inc., which operates the Value Pawn & Jewelry and Check Jewelry and Loan chains, on Tuesday announced it has made the first step towards becoming a public company.
The Maitland-based company on Monday filed a registration statement with the U.S. Securities & Exchange Commission to make an initial public offering. It has not yet determined how many shares the company will offer, nor has the price been determined, says Chief Financial Officer Woody Whitcomb. Those details could be ready for the initial offering by year's end, Whitcomb says.
Value Financial reported $92 million in revenue for the fiscal year that ended March 31. Revenue grew 21.3 percent from the previous 12-month period, according to a news release.
San Francisco-based JMP Securities LLC is advising the company on the initial public offering.
Value Financial Chairman and CEO John Thedford says in a prepared statement that going public has always been a company goal. Thedford founded Value Financial in 1994 with a single store in West Palm Beach, which has since grown to 62 stores in Florida, Georgia and Tennessee.
Source:MSN
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