News about the raising of fresh capital is almost always seen as a positive by investors and hence, it might be the right time for investors to keep an eye on the MHHC Enterprises Inc (OTCMKTS:MHHC) stock. The company announced yesterday that it had got the approval from the United States Securities and Exchange Commission for a capital raise.
MHHC Enterprises, Inc. Announces Approved Capital Raise
The company would be looking to raise a total of $75 million for supporting the development of its subsidiary unit ONBLi Inc. The subsidiary is going to be focussed on providing an innovative e-commerce experience.
However, that is not all the fresh capital is going to support. MHHC would also deploy the capital towards the development of its warranty and service business. That would help the company in eventually getting into original product lines. The innovative e-commerce platform from ONBLi is going to help in improving the sales channels in combination with already established warrant services.
In this regard, it is also important to point out that the majority of the private and corporate funding that had been raised by MHHC had been invested into its e-commerce platform. It now remains to be seen if the MHHC stock garners any attention from investors today.
