Xponential Increases Stake in American IronHorse
Xponential, Inc., Norcross, Ga., says it has acquired an additional 51,111 shares of American IronHorse Motorcycle Company, Inc. common stock to increase its holdings to 793,859 shares, or 15% of the common stock outstanding. Xponential also owns a warrant to purchase an additional 100,000 shares in the Texas-based motorcycle manufacturer at $15 per share.
Xponential and its wholly-owned subsidiary, Xponential Advisors, Inc. made the deals in a private transaction.
Dwayne A. Moyers is Chief Executive Officer and Chairman of the Board of Xponential and Xponential Advisors, Inc., and also serves as Chairman of the Board of American IronHorse Motorcycle Company, Inc. Moyers and other directors and officers of Xponential, Inc. own or control, either directly or through affiliated entities, an additional 1,018,373 shares, or 19.23% of the outstanding common stock of American IronHorse.
“The current investment affirms our belief in the direction and performance of American IronHorse,” Moyers said while announcing the deal. “Management of American IronHorse continues to make improvements in production capacity and delivery of its motorcycles through expansion of its dealer network. We believe that our investment in American IronHorse will bring significant value to Xponential stockholders as American IronHorse continues its growth.”
Xponential, Inc. trades on the OTC Bulletin Board under the symbol XPOI.
