FlexShopper files registration statement for proposed rights offering

FlexShopper (FPAY) announced that it has filed a registration statement on Form S-1 with the SEC for a proposed rights offering in which it plans to distribute to its stockholders non-transferable subscription rights to purchase up to 35M units. Each unit will consist of one share of common stock and three short-term rights to purchase additional Common Shares at varying discounted market-based prices. Officers and directors of the company have given indications they intend to participate in the rights offering. The company has engaged Moody Capital Solutions to act as dealer manager for the rights offering.