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Mike Neff · Monday January 23, 2006
I recently penned an article about a group known as Save the Speedway. For those who didn’t get a chance to read it, Save the Speedway is a group intending to purchase the long dormant North Wilkesboro Speedway from Bruton Smith and Bob Bahre.
But other than saving one of NASCAR’s classic race tracks, that’s not the only special thing Save the Speedway is looking to do—- and you can be a part of it. Let me explain…in an effort to raise the necessary capital, the group is going to make a Reg. A filing with the Securities and Exchange Commission. This filing is going to allow the common race fan the opportunity to buy in at the ground level of this undertaking and own a piece of racing history.
Initially, the group was looking to do a private placement with a handful of investors. The minimum investment was going to be $100,000. However, the group has reconsidered and decided to appeal to a broader base of investors. The minimum investment is now going to be a mere $100. That amount should allow any race fan the chance to own a piece of North Wilkesboro for the cost of a single ticket to a Cup series event.
There are only a couple of opportunities in the current racing environment to own a piece of a race promotion company. Speedway Motorsports Inc, which operates Charlotte, Atlanta, Las Vegas, Texas, Sears Point and Bristol has stock which currently runs at $35.52 per share. Dover Downs gaming and entertainment, the parent company that operates the Monster Mile at Dover Downs, is also public, but their shares run at $14.09. The IPO price for Save the Speedway, in comparison, is going to be $1 per share. Therefore, a minimum investment of $100 is going to give the investor 100 shares in the company. With only 10 million shares issued initially, that is a pretty decent stake in a company for the money.
For those interested in participating in the IPO, please send your name, address, phone number, and desired investment amount to Robert Wilson, Financial Consultant to STS Motorsports Inc. via email (firstname.lastname@example.org). Funds cannot be accepted until the filing is completed, but Robert would like to compile a list of potential investors in advance of the registration.
Opportunities like this do not come along very often. Take a chance to help bring the grand old lady back to the racing world. Who knows…maybe you could become the next Bruton Smith.
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