Private-equity Firm Legion Capital Files For IPO

Private-equity firm Legion Capital Corp. said Wednesday it has filed for an initial public offering. The company is planning to offer 4 million shares at $1.25 a pop. The firm is led by J. Bradley Hilton, grandson of hotelier Conrad Hilton, who has worked in private equity and venture capital since leaving Hilton Hotels just before its sale to Blackstone for just under $27 billion, the company said in a release. Hilton is joining venture capital executive and corporate attorney James Byrd and marketer Shane Hackett in Legion Capital, which uses crowdfunding and other new capital formation methods. Legion is planning to list its shares on the Nasdaq. It will use the proceeds of the IPO to grow its businesses and fund acquisitions.