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ERIE, Penn. -- April 1, 2011 (BizWjre™) -- RF Cafe™ (RFCafe.com), the world's most popular RF, microwave, and wireless website, has announced that it has been acquired by Legend Investment Enterprises™ for an undisclosed sum, and that it will be taken public on the NASDAQ™ exchange by way of an initial public offering (IPO) in the summer of 2011. RF Cafe has experienced astronomical growth since its inception in 1999, and has built a reputation with engineers, managers, students, and hobbyists as the Web's go-to source for technical information, news, original articles, and even geek entertainment. RF Cafe founder and engineer Kirt Blattenberger said, "I am overwhelmed at the opportunity provided by the good folks at Legend Investment Enterprises. Thanks to RF Cafe's huge community of dedicated visitors and wonderful advertisers, the website grew from humble beginnings to a six-figure annual revenue giant in a little over eleven years. This is a payday I have been anticipating for a long time, and will use the money to tour the world for a year or so before finally beginning to write a Windows version of my highly popular RF Workbench software (now in DOS format). What I need most now right is a good CPA to help me avoid paying taxes on the sale."
Legend Investment Enterprises' CEO Ed Glen said, "We consider ourselves extremely fortunate to have been able to add RF Cafe to our portfolio of highly successful technical holdings. Our investment group has a record of picking winners, and RF Cafe will certainly prove to lead the pack. Kirt's expertise and creativity, along with his thorough understanding of the needs of his audience are truly unique and will be highly valuable as he continues to function in an advisory role during the transition period." "The technical world will be taken by storm when a public offering is conducted later this year," added Glen.
While no specifics were given, sources indicated that the initial offering will consist of 750,000 units of common stock, and 150,000 shares of preferred stock. Preferred stock will be distributed amongst the investor group. A target price of $5.00 per share for common stock and $15.00 per share for preferred stock has been set. Inquiries should be made to the Legend Investment Enterprises' business development unit.