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Alpha Investment, a mortgage lender based in Columbus, Ohio, filed a form S-1 with the US Securities and Exchange Commission recently, formally announcing its plans to go public underwritten by Boustead Securities. Alpha is backed by Omega Commercial Finance.
Here's what you need to know about investing in Alpha Investment from Canada.
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Alpha has previously traded on OTC Markets. After the IPO, it will trade on the Nasdaq Capital Market under the stock ticker symbol "ALPC."
The company plans to raise $15 million from the IPO. Aegis Capital was originally slated to be the sole bookrunner, but underwriting responsibilities have since changed to Boustead Securities. Details like the exact IPO date and opening stock price have not yet been announced.
You can read more about the IPO in this document filed with the US Securities and Exchange Commission (SEC) on December 20, 2021. We'll update this page as more information becomes available.
Note: all dollar amounts on this page are in US dollars unless otherwise stated.
Once Alpha Investment goes public, you'll need a brokerage account to invest. Consider opening a brokerage account today so you're ready as soon as the stock hits the market.
You won't be able to buy Alpha Investment stocks on a Canadian stock exchange like the TSX. Instead, you need a Canadian broker that provides access to international stock exchanges.
Interactive Brokers provides access to many stock exchanges outside North America like the Hong Kong Stock Exchange (SEHK), Korea Stock Exchange (KSE), National Stock Exchange of India (NSE), Frankfurt Stock Exchange (FWB) and London Stock Exchange (LSE).
Note: The dollar amounts in the table below are in Canadian dollars.
Canadians who earn dividends from US stock investments must pay the US Internal Revenue Service (IRS) a 15% withholding tax on their earnings. The rate goes down to 10% for bonds and other interest-yielding US investments.
An exception is made for stock investments held in trusts designed to provide retirement income. This includes RRIFs, LIRAs, LIFs, LRIFs and Prescribed RRIFs. RRSPs that hold US stocks, bonds or ETFs are also exempt from US withholding tax. RESPs, TFSAs and RDSPs are not exempt.
Canadian and international investment income must be declared on your Canadian tax return. Unless your US earnings are exempt from withholding tax, this means you'll be taxed by both the IRS and the CRA. The CRA may allow you to claim foreign tax credits for any taxes you've already paid to the IRS.
Speak with a tax professional to find out what rules and exceptions apply in your circumstances.Online stock trading
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