Funds MVB Financial Raises $52.8 Million
FUND MVB Financial Corp., the parent company of MVB Bank, Inc., MVB Mortgage and MVB Insurance, LLC, announced recently that it has completed a series of private placements resulting in gross proceeds of approximately $52.8 million. Through its common stock offering, the Company sold 972,059 shares of common stock at $16.00 per share (adjusted for March 21, 2014 split) for a total of $15.6 million. In addition, in a separate offering, the Company issued $7.8 million of preferred stock and $29.4 million of subordinated debt.
TARGET The Company intends to use the aggregate gross proceeds
of approximately $52.8 million from the private placements to fund future organic and strategic growth and for other general corporate purposes. “We are very pleased with our ability to compile such a dynamic capital stack through these private placements. We believe it reflects the high level of confidence our investors have placed in us,” said Larry F. Mazza, CEO, MVB Financial Corp.
THE COMPANY MVB Financial Corp. (“MVB” or “MVB Financial”; OTCQB: MVBF) was formed on January 1, 2004 as a bank holding company and, effective December 19, 2012, elected to become a financial holding company. MVB Financial features multiple subsidiaries and affiliated businesses.
Name MVB Financial Corp.
Target
fund future organic and strategic growth and for other general corporate purposes.
CoreOS Closes $8 Million Series A
Name CoreOS
Target
Growing the company, product development, and managing the increasing global interest in CoreOS.
Investors
Kleiner Perkins Caufield & Byers, Sequoia Capital and Fuel Capital.
FUND CoreOS, a Linux operating system for massive server deployments, recently announced its $8 million Series A funding round as well as the release of CoreOS Managed Linux, which will provide businesses with optional support subscriptions.
INVESTORS The series A funding round led by Kleiner Perkins Caufield & Byers, with follow-on investments from existing investors Sequoia Capital and Fuel Capital.
TARGET The funding will go towards growing the company, product development, and managing the increasing global interest in CoreOS.
THE COMPANY CoreOS is a new Linux OS that has been re-architected to provide the foundation of warehouse scale computing. The strategies and architectures that influence CoreOS allow companies like Google, Facebook and Twitter to run their services at scale with high resilience. CoreOS runs on your existing hardware and on cloud providers.
Grand Perfecta Closes New Equity Financing Round
FUND Grand Perfecta, Inc. has completed a US$3,000,000 equity fund raise with a non-US investor wherein the company sold 3,000,000 unregistered common shares and included a five year option to purchase an additional 3,000,000 restricted common shares at an exercise price of $1.00 per share.
TARGET “We are pleased to have closed on this stock purchase transaction. This equity investment will finance our corporate growth and expansion strategy while allowing us to retire debt and strengthen our balance sheet. This is one more step forward for Grand Perfecta and brings increased
operational flexibility to the company,” stated Grand Perfecta CEO, Shuya Watanabe.
THE COMPANY Grand Perfecta, Inc. is a leading provider of data analysis, research publication and distribution of horse racing and other related information in Japan. Grand Perfecta’s management is an experienced team of professionals in the horse racing services industry with over 70 employees. The Company has used its expertise to achieve considerable success with more than one million subscribers in Japan and distributes its product via various media, including print, internet and text messaging and telephonically.
Name
Grand Perfecta Target
Finance our corporate growth and expansion strategy while allowing us to retire debt and strengthen our balance sheet.
FINANCEMONTHLY
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