EquiFin, Inc, a commercial finance company which provides structured credit to small- and mid-size business enterprises (SMEs), announced yesterday (23 September) that it has completed an oversubscribed $1.1m private placement through a group comprised of institutional investors and individuals. The investment was made through the Company's issuance of its $1.1m principal amount of 11% Convertible Notes which will be due for payment in September 2008, are convertible at $.43 per share and have common stock purchase warrants attached.
"This investment, combined with our Wells Fargo Foothill senior credit facility, enables EquiFin to continue to build its commercial finance business as carried out through our subsidiary, Equinox Business Credit," said Walter Craig, EquiFin's president and chief executive officer.
