WESTPORT, CT--(Marketwired - Aug 2, 2016) - Source Capital Group announced that it acted as Placement Agent to Staffing 360 Solutions, Inc. (the "Company) in closing on financing commitments totaling $2 million of Series D Preferred Stock at a face value of $10,000 per share of Series D Preferred, and Original issue Discount of 5% and a conversion price into common stock of $2.50 per share. The transaction was closed on June 24, 2016.
"Staffing 360 Solutions' management has done a great job growing their business and deleveraging their balance sheet," stated Richard Kreger, Senior Managing Director of Investment Banking at Source Capital Group. "We would like to congratulate the Company on this successful financing."
The funding of this offering was used for debt payment and general corporate purposes.
Source Capital Group, Inc. acted as exclusive placement agent to the Company.
About Source Capital Group, Inc. The Investment Banking Group at Source Capital offers a wealth of Wall Street experience to the underserved small cap company sector through its seasoned professionals. They have successfully funded both public and private companies with an emphasis on Structured Credit and unique equity capital markets transactions, creating tailor-made solutions to enhance their clients' balance sheets. Source Capital Group began as an independent firm specializing in small to medium-sized investment banking transactions. Since 1992, it has grown into a full-service financial institution, while adhering to the highest standards of quality and integrity.
Contact Information:
Contact:
Richard Kreger
(203) 341-3500
RKreger@sourcegrp.com