Paradigm Parachute and Defense Secures $1.75 Million Financing
2024年5月16日 - 9:32PM
Carofin and Carolina Financial Securities (collectively “Carofin”)
are pleased to announce they have arranged $1.75 Million in senior
secured notes (the “Notes”) to support the rapid expansion of
Paradigm Parachute and Defense, Inc.’s (“Paradigm” or the
“Company”) business. The funds were sourced through Carofin’s
network of accredited investors and family offices looking to
allocate capital into direct private investments.
Carofin established Drop Zone Canopy Company, LLC (“Drop Zone”)
to facilitate parachute manufacturing in collaboration with the
Company and represents the second such financing arranged for the
Company in the space of two years to support its growing contracts.
The Notes are payable in two years and have a 12% coupon. Drop Zone
acquires raw materials for, and advances labor costs to, Paradigm
to manufacture and sell high quality, precision, military style
parachute systems and associated defense products to commercial,
government, and humanitarian customers worldwide.
The Pensacola, Florida operation is a veteran-owned business
that specializes in meeting all manner of contract requirements
with a customer base that spans four continents. “We have a
multi-million-dollar backlog of contracts with the Department of
Defense, foreign governments and private defense firms,” said the
Company’s co-C.E.O Aaron Nazaruk. “Carofin is enabling us to meet
our capital requirements for expanding our production to address
this dramatic increase in our sales.”
“Our innovative Drop Zone structure offers the Company funding
to purchase raw materials and cover labor costs, while investors
receive a security interest in the materials, finished parachutes,
and related accounts,” commented Joshua Greene, Carofin’s Vice
President. “We are pleased to be able to support Paradigm’s global
mission to make its parachutes available both for humanitarian and
military uses as unsettled world events are driving up demand for
its products.”
Carolina Financial Group (CFG), Carofin’s and CFS’s parent
company, is a private investment bank that structures investments
and raises critical capital for small to medium-sized businesses
seeking growth capital in the U.S. Carofin and CFS have raised over
$1.1B since 1997 across more than 200 private
transactions. For more information, visit Carofin’s
website.
Media contact:Nash Robertsnroberts@carofin.com828-393-0088
x602