Sibannac Inc. (OTC: SNNC) Outlines Key Goals for 2024
At the beginning of the year, the Nevada corporation Sibannac Inc. (OTC: SNNC) had come into sharp focus after it provided a key update about its goals for 2024. The company noted in its update that The Campus Community, its fully owned subsidiary unit, Sibannac, would start spinning off certain companies and brands that had passed the start-up stage and become ripe for S-1 registration so as to complete an initial public offering. Sibannac noted in its news release that the relationships with those target companies had been initiated through a range of sources.
One of those sources had been Lifetime Branding, which had been brought on board by Eric Stoll, the company’s marketing partner. The target companies had not only standalone capacities but also existing revenues. Additionally, those companies had also been vetted entirely by the incubation process put in place by The Campus Community. The company also revealed that it had also been engaged in completing due diligence on a number of institutions for the purpose of managing and arranging the offerings before uplisting the Sibannac stock itself. The company added that the IPOs would not depend on the status of the Sibannac uplisting.
Sibannac announced that it had planned on having fully audited candidate companies that would be able to trade with immediate effect on the NASDAQ. The legacy shareholders of the company would get an extra benefit in the form of the opportunity to subscribe to the offering. As a consequence, the legacy shareholders would be able to invest in those IPOs for the same price as the broker dealers. Last but not least, Sibannac also revealed that Campus Community would start operating in the same way as a merchant banking entity and could also decide to file under the provisions of the 1940 Investment Act.
