Ls -1x Apple (LSE:APLS)
Historical Stock Chart
From Jul 2019 to Jul 2024
Southridge Capital Management LLC Managed Funds Provide $250,000
to American Pallet Leasing, Inc. and up to $5,000,000 over the Next Two Years
RIDGEFIELD, Conn., June 16 /PRNewswire/ -- Southridge Capital Management LLC
("Southridge"), a private investment firm that provides capital to growing
enterprises, is pleased to announce a funding of $250,000 plus a financing
facility of up to $5,000,000 between funds it advises and American Pallet
Leasing, Inc. (OTC:APLS.OB) (BULLETIN BOARD: APLS.OB) ("APL")
APL, headquartered in Iowa, is a leading manufacturer and supplier of pallets
to American industry. APL's prime manufacturing facility is a 25,000 square
plant in South Carolina, where lumber is cut and pallets are assembled. APL is
looking to expand capacity to meet the demand for pallets by engaging in a
roll-up strategy to purchase other saw mills. APL is also looking to establish
a closed loop distribution system in the manufacture and lease of steel
pallets. Current demand for pallets is estimated at 700 million annually and
is growing. APL also sells lumber of various grades and qualities. The Company
counts multi-billion dollar companies like Owens Corning and Home Depot as its
clients.
Tim Bumgarner, Chief Executive Officer of APL, said, "We are very excited about
our future. As a recently formed public entity, we were looking to align
ourselves with a first-rate financial partner, and Southridge, with their
substantial expertise, fits the bill."
"We are proud to align ourselves with American Pallet Leasing and look forward
to assisting them achieve their growth goals," said Stephen Hicks, Founding
Principal of Southridge.
About Southridge:
Since its founding in 1996, Southridge advised funds have provided
approximately $1 billion in growth capital to emerging companies. Southridge
is committed to funding companies with robust business models domestically and
abroad.
DATASOURCE: Southridge Capital Management LLC
CONTACT: Steve Bruce or Ann Taylor Reed, +1-212-371-5999, both of
Abernathy MacGregor, for Southridge Capital Management LLC