21st Century Financial Corp. of America, a Maitland startup company formed to acquire a life insurance company and 44 percent of Glenn H. Martin Associates Inc., plans to raise up to $10-million with an initial public offering of 20,000 units. Each unit, to sell for $750, will include $250 principal amount of 12 percent subordinated notes due July 1, 2000, and 200 common shares, according to a filing with the Securities and Exchange Commission.
Martin Associates owns Financial Security Corp. of America, an insurance marketing company.
Bolar Pharmaceuticals Co. Inc.
The Securities and Exchange Commission (SEC) has filed suit against Bolar Pharmaceuticals Co. Inc., the New York drug manufacturer, and its former president Robert Shulman, claiming the company and Shulman committed fraud regarding the generic drug Dyazide.
The SEC suspended trading in Bolar stock on the American Stock Exchange on Jan. 23 because the company filed false documentation concerning the drug with the Federal Drug Administration (FDA), then failed to tell the commission that it had been declared false by the FDA.
Dyazide is used to treat hypertension.
Trading in Bolar stock was reconvened Feb. 5, but discontinued Feb. 7 at Bolar's request.
Agripost Inc. of Pompano Beach has completed a private offering of 460,000 common shares at $2.50 each, or $1.15-million, according to a filing with the Securities and Exchange Commission.
The companies in this listing are based in Florida or have major shareholders in the state and have filed reports recently with the Securities and Exchange Commission in Washington, D.C. The filings are provided by States News Service.