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AWTM AWTM Ultra Short Duration Enhanced Income ETF

48.4418
0.00 (0.00%)
17 May 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
AWTM Ultra Short Duration Enhanced Income ETF AMEX:AWTM AMEX Exchange Traded Fund
  Price Change % Change Price High Price Low Price Open Price Traded Last Trade
  0.00 0.00% 48.4418 0 01:00:00

Institutional Financing Finds its Way to AWT

19/09/2007 1:20pm

PR Newswire (US)


AWTM Ultra Short Duratio... (AMEX:AWTM)
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SOMERSET, N.J., Sept. 19 /PRNewswire-FirstCall/ -- AWT, Inc. (Pink Sheets: AWTM), is pleased to announce that it has signed agreements with Wakabayashi Fund, LLC for $1.0 million financing that is designated for acquisition use. "Our discussions with Wakabayashi have been for a straight debt piece, but the financing will probably come in as a hybrid of debt and equity. The structure of this financing is not set, but I can assure the market, we will not accept terms that will be toxic to our present investors and the continued growth of the Company," commented Christopher J. Neill, CEO. Furthering his comments, "Our debt service coverage on a short or long-term debt piece will be substantial, just north of 3 to 1." The Company until recently had relied on founders and investors monies for project financing, and as a result of moving from the private sector to the public markets, now has access to institutional financing. "Bringing both sales and financing together, this year we are expanding beyond the out-of-pocket financing and the one-off market for sales, to reach out to customers via large distribution contracts and to the doctors and nurses from what is called 'trusted advisor' sales," says Mr. Neill. "We are very appreciative of the support our investors have given us, and because of this, our present in-process acquisitions are coming together quickly. AWT's CFO, Donald Malter stated, "A long term relationship with Wakabayashi Fund, LLC will not only benefit the overall shareholder value in the coming months and next fiscal year, but through out the first part of our five year build out. We look forward to a continued working relationship." Wakabayashi Fund, LLC may invest on a principal basis as well as act as an institutional intermediary to procure capital for profitable small-cap companies. They provide consulting experience to help structure a financing so that owners and managers continue to lead their enterprises and participate in the rewards of future growth, while at the same time achieving the liquidity to diversify their personal holdings and fund the next round of company expansion. Company website: http://www.wakabayashifund.com/ ABOUT AWT INC AWT Inc, headquartered in Somerset, New Jersey, with Distribution centers in the USA and Saudi Arabia, is a rapidly expanding durable medical equipment and supply company. It distributes state-of-the-art medical equipment to the healthcare industry, as well as general supplies. AWT Inc is committed to a more traditional personal service commitment to healthcare and cost efficiencies for clients, providing superior service and products to the healthcare world at the lowest possible price and with delivery times superior to any in the industry. It is equally committed to always exceeding customer expectations and to increasing shareholder value. Disclaimer: CAUTIONARY STATEMENT ABOUT FORWARD-LOOKING STATEMENTS The acquisition financing described in this press release has not been completed for AWTM at the time of writing. The agreement calls for the financing to be raised on a best efforts basis through Institutional Investors provided by Wakabayashi and possibly through a direct investment from Wakabayashi Fund, LLC. It is the intention of AWTM to work with Wakabayashi Fund to complete this financing on a best efforts basis, at its earliest possible opportunity. If the financing is not completed, no assurances as to the financial viability of the company are possible. No guarantee can be made by the company as to if the acquisitions mentioned herein will actually take place and close. If the acquisitions do not close where AWTM has purchased, acquired, or merged with said companies, actual results could differ materially from those projected in the forward looking statements. This press release contains "forward-looking statements," which are statements related to future, not past, events. In this context, the forward-looking statements often include statements regarding our goals, plans, projections and guidance regarding our financial position, results of operations, market position, pending and potential future acquisitions and business strategy, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks" or "will." Any such forward-looking statements are not assurances of future performance and involve risks and uncertainties that may cause results to differ materially from those set forth in the statements. These risks and uncertainties include, among other things, (a) general economic and business conditions, (b) the level of strategic partner incentives, (c) the future regulatory environment, (d) our cost of financing, (e) our ability to complete acquisitions and dispositions and the risks associated therewith, and (f) our ability to retain key personnel. These factors, as well as additional factors, could affect our forward-looking statements. We urge you to carefully consider this information. We undertake no duty to update our forward-looking statements, including our earnings outlook. DATASOURCE: AWT, Inc. CONTACT: Investor Relations, Michael D. Maley, Managing Director of Expedite Ventures, +1-585-454-6950, for AWT, Inc. Web site: http://www.awtmid.com/ http://www.wakabayashifund.com/

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