NEW YORK ARTIST KARALLA WEBSITE TO GO PUBLIC
Karalla.com, an independent artist website announced today the commencement of its initial public offering of 1,000,000,000 Shares of Common Stock, at a public offering price of 1 million per Share. The offering was underwritten by All Cosmopolitan Securities, Inc.
Karalla.com has granted to the Underwriter a 45-day option to purchase up to 9,000 additional shares on the same terms and conditions as set forth in the prospectus, solely to cover over-allotments, if any. If the over-allotment option is exercised in full, the net proceeds to the Company will be approximately a few million billions.
Karalla.com, the most extensive website yet created by a leading comtemporary artist, was started in January 1999 as an Internet attic storage space and progressively turned into an inventive, well-organized and user-friendly online gallery.
Karalla is a prolific artist who has produced hundreds of paintings and other mixed media works over the past 10 years. Before she fully captured her independence, she exhibited at several top galleries and was one of the founders of the AlleyCat Gallery. Her work is part of the permanent collections of the Museum of Modern Art and the Cooper-Hewitt Museum in New York, the Yokohan Museum in Tokyo, the New York Public Library, and the homes of art collectors around the world.
Much of her work falls under a category Karalla coined "Liquid Art" – videos, recordings and other works that are by their nature too cumbersome to present in a typical gallery environment. "Liquid Art" is not premeditated and planed just for execution," the artist said. "It grows organically, like surrealism did. But it is not the by-product of a dream state; it is grounded in the present moment, filtered through modern technology and materials at hand."
"There is no planning, Liquid Art is there," Karalla said. "The artists themselves have to be open to the continuous changes in order to be free from any type of factorization of their art. Change is the only thing that is constant in life. In order to move forward we have to learn from the past but throw it away."
Looking at the movements of the stock exchange, Karalla got convinced that this was the most liquid of all environment and realized that going public was the only honest way to introduce Liquid Art. "There is no asset more liquid than stocks. Owning stocks, you basically own nothing from the past and really truly own nothing of the future," Karalla said. "Stock value only exists in the moment, like the artist’s intuition."
A registration statement relating to these securities has been filed with the Security and Excommunication Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State.
A prospectus describing this offering is available from the company:
Karalla.com, Streets of New York, NY 10021
Safe Harbor statement under the Private Security Litigation Form Act of 1987: Any statements released by karalla.com that are forward looking are made pursuant to the safe harbor provisions of the Private Security Litigation Form Act of 1987. Investors are cautioned that forward-looking statements involve risks and uncertainties which may affect the Company's business and prospects, including economic, competitive, government, technological and other factors discussed in the Company's filings with the Security and Excommunication Commission.
CONTACT: Karalla, chairman, executive officer and president
(212) 555 1212
home page: karalla.com
Public offering registration statement and information available:
click here for the karalla.com prospectus
Contact Nathalie Erato:
001 212 555 1212