Further diversifying the nature of the cash flows acquired under its brand contract with Vernon Davis, Fantex, Inc. announced it has again exercised its right to co-invest alongside the 49ers Pro-Bowl tight end.
On behalf of stockholders of the Fantex Series Vernon Davis Convertible Tracking Stock (OTC: VNDSL) (“Fantex Series Vernon Davis”), the Silicon-Valley based company has acquired a 10 percent ownership interest in a fourth Jamba Juice franchise.
Under its brand contract with Mr. Davis, Fantex, Inc. has a right to co-invest in certain opportunities presented to Mr. Davis at a percentage equivalent to the brand income Fantex, Inc. has acquired. Investment results from these co-investments will be attributed to Fantex Series Vernon Davis.
In April of this year, Fantex, Inc. announced it had exercised its right to co-invest alongside Mr. Davis and acquired a 10 percent ownership interest in three Jamba Juice franchises on behalf of Fantex Series Vernon Davis stockholders. The company used cash generated from those investments to purchase its 10 percent ownership interest in the new location, with investment results again attributed to Fantex Series Vernon Davis.
“Attributing ownership interest in a fourth Jamba Juice franchise to the stockholders of Fantex Series Vernon Davis is a tangible example of how the earning potential of our brand contracts can expand over time,” said Fantex, Inc. co-founder and CEO Buck French.
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