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Systems America Inc Executed Bank Letter Of Interest For $7.5 Million Acquisition Financing From Wells Fargo Capital Finance


Monday, 8 Oct 2012 04:28pm EDT 

Systems America Inc announced that that it has received a letter from Wells Fargo Capital Finance (Wells Fargo). Pursuant to this letter, Wells Fargo has proposed to provide Systems America a secured $7.5 million asset-based credit facility that would be used to acquire a specific targeted company. Upon execution of definitive documents, the credit facility is to be used to finance a specific acquisition of the Company. This proposed acquisition is an all cash transaction and non-dilutive to the Company shareholders at this time. Upon completion of the proposed acquisition and based on negotiated credit facility terms, the Company is expected to have consolidated pro forma revenues of $30 million and earnings of over $4.4 million for the fiscal year ending December 31, 2012. Executed Bank Letter of Interest for $7.5 Million Acquisition Financing From Wells Fargo Capital Finance 

Company Quote

0.0124
-0.0176 -58.67%
27 May 2014