IA Global Secures Equity Financing Commitment of up to $5,000,000 from Ascendiant Capital
2009年10月5日 - 10:00PM
ビジネスワイヤ(英語)
IA Global Inc. (NYSE Amex US: IAO) (“IA Global” or the
“Company”), a broad-based services company with a dedicated focus
on the growth of existing business and expansion through mergers
and acquisitions in the Pacific Rim region, announced today that it
has secured a commitment from Ascendiant Capital Group, LLC, a
private equity firm based in Irvine, California (“Ascendiant”), to
purchase up to $5,000,000 worth of the Company’s common stock over
a 24-month commitment period, provided that certain conditions
(including approval by the NYSE Amex) are met.
Pursuant to its definitive agreement with Ascendiant, IA Global
will have the right to determine the timing and amount of its sales
of common stock under the financing arrangement, subject to certain
terms and conditions. The Company will sell shares of its common
stock directly to Ascendiant in private placement transactions from
time to time and has agreed to file a registration statement with
the Securities and Exchange Commission (the “SEC”) covering
Ascendiant’s subsequent resale of such shares. Ascendiant’s
commitment period will not begin, and Ascendiant will not be
obligated to purchase any shares of the Company’s common stock,
unless and until that registration statement is declared effective
by the SEC.
Mr. Brian Hoekstra, the Company’s Chief Executive Officer,
stated “This equity financing instrument will provide needed
working capital to fuel our operations while providing the
flexibility to manage growth opportunities as needed. Further, we
are pleased with Ascendiant and the terms of this financing
commitment are favorable considering the current challenging
capital environment.”
In addition to those described above, Ascendiant’s commitment to
purchase equity in IA Global is subject to certain other terms and
conditions. For example, provided the transaction closes, the
Company will be obligated to sell at least $1,000,000 worth of its
common stock to Ascendiant over the 24-month commitment period.
Additional details with respect to the transaction are set forth in
a Current Report on Form 8-K that the Company will file with the
SEC within 24 hours of the dissemination of this press release.
IA Global expects to file the registration statement described
above, which will be subject to review and comment by the SEC, on
or before November 13, 2009. If and when the transaction closes,
the Company plans to use the capital raised through its periodic
sales of common stock to Ascendiant for working capital and other
general corporate purposes.
About IA Global,
Inc.
IA Global is a Business Process Outsourcing (“BPO”) and
financial services corporation targeting the B2B and B2C markets in
the Asia Region. The Company is seeking to expand its investments
in the BPO, B2B and financial services sectors. In Japan, IA Global
is the 100% owner, except as disclosed, of Global Hotline, Inc., a
BPO organization, which operates several major call centers
providing primarily outbound telemarketing services for
telecommunications and insurance companies. In the Philippines, IA
Global operates as Global Hotline Philippines Inc., a BPO
organization, providing inbound and outbound telemarketing
services, as well as collocation facilities, to a variety of
industries. In the Asia region, the Company has equity investments
of 20.25% in Slate Consulting Co Ltd. and 12.6% in Taicom
Securities Co. Ltd., except as disclosed.
About Ascendiant Capital
Group, LLC
Established in 2001, Ascendiant provides investment capital and
strategic guidance to public and private emerging growth companies.
For additional information, visit www.ascendiant.com.
Further Inquiries; Contact
Information
Investor RelationsIA Global, Inc.101 California Street, Suite
2450San Francisco, CA 94111415-946-8828 (t)415-946-8801
(f)ir@iaglobalinc.comwww.iaglobalinc.com
Disclaimer Regarding
Forward-Looking Statements
"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995: This press release contains forward-looking
statements (within the meaning of Section 27a of the Securities Act
of 1933 and Section 21e of the Securities Exchange Act of 1934)
regarding us and our business, financial condition, results of
operations and prospects. Forward-looking statements in this press
release reflect the good faith judgment of our management and are
based on facts and factors currently known to us. Forward-looking
statements are subject to risks and uncertainties, and actual
results and outcomes may differ materially from the results and
outcomes discussed in the forward-looking statements as a result of
either the matters set forth or incorporated in this press release
generally or certain economic and business factors, some of which
may be unknown to and/or beyond the control of IA Global.
Specifically, we are exposed to various risks related to legal
claims, our need for additional financing, our level of
indebtedness, our NYSE AMEX listing, our investment in Taicom
Securities Co Ltd., declining economic conditions, our Global
Hotline business, our controlling shareholder groups, the sale of
significant numbers of our shares and volatility in the market
price of our common stock. Readers are urged not to place undue
reliance on these forward-looking statements, which speak only as
of the date of this press release. We do not undertake, and we
expressly disclaim, any obligation to revise or update any
forward-looking statements in order to reflect any event or
circumstance that may arise after the date of the press
release.
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