BuzzFeed SPAC mess highlights controversial stock transfer agents
Last week's BuzzFeed stock mess, in which ex-employees were unable to sell their sinking shares, put a spotlight on stock transfer agents; essential capital markets players who generally prefer to remain in the shadows.
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Green Bay Packers stock price
The price per share for a sixth Packers stock offering hasn't been set yet. The Green Bay Press Gazette said that the 2011 price was $250 per share. The offering was popular and approved in all 50 states. Initially, 250,000 shares were offered with an additional 30,000 shares offered due to the offering’s popularity.
History of the Packers shareholders
The team calls itself “one of the more remarkable business stories in American history” because it has been funded by its fan base through stock sales in 1923, 1935, 1950, 1997, and 2011. The last stock sale of the Packers ended on February 29, 2012.
How do the Packers use stock sale proceeds?
According to NFL regulations, the money raised through a stock sale can only be used to fund stadium projects that will benefit the team's fans. This means that operating expenses aren't approved for stock sale funds or expansions of player facilities, according to Mark Murphy, the Packers President and CEO.
