SOURCE: WestPark Capital, Inc.

November 05, 2013 13:12 ET

WestPark Capital Announces $7.2 Million Financing With an Additional Monster Digital Closing

LOS ANGELES, CA--(Marketwired - Nov 5, 2013) -  WestPark Capital, Inc. announced the additional closing on October 31, 2013 of a private placement offering for Monster Digital, Inc. due to increased demand from investors bringing the total funds raised to date to 7.2 Million dollars ($7,200,000). Monster Digital designs, develops and markets premium memory storage products for use in high-performance computing and demanding consumer and mobile product applications. The net proceeds will be used to expand the Monster Business, including enhancing sales channels and distribution capability, inventory, and for related general corporate purposes. WestPark Capital, Inc. acted as Placement Agent for the offering.

This press release does not constitute an offer to sell or the solicitation of offers to buy any security and shall not constitute an offer, solicitation, or sale of any security in any jurisdiction in which such offer, solicitation, or sale would be unlawful.

About WestPark Capital
WestPark Capital is a full-service investment bank focused on emerging growth sectors such as healthcare, software, technology, biotechnology, financial services, manufacturing, consumer products, media and telecom industries, among other categories. WestPark provides a comprehensive range of corporate finance services, including initial public offerings, follow-on offerings, private placements, SIPOs and corporate finance advisory services. Additional information about WestPark Capital, Inc. is available at www.wpcapital.com or at info@wpcapital.com.

About Monster Digital
Monster Digital, through its parent, Tandon Digital, Inc., is the exclusive producer of premium memory storage products for use in high-performance computing and demanding consumer and mobile product applications. The focus is on the development and marketing of a broad selection of high-value memory storage products that combine performance, reliability and functionality at competitive prices. Their high-end, ruggedized Solid State Drives ("SSDs") and Solid State Hybrid Drives ("SSHDs") and removable flash memory secured digital cards ("SDs") are marketed under the brand name Monster Digital further to a license from Monster, Inc., formerly Monster Cable Products, Inc. (the "Monster Business"). Their Dynamic Random Access Memory ("DRAM") modules are currently sold worldwide primarily to original equipment manufacturers ("OEMs"). They believe that their target customers seek high value products that combine performance, reliability and functionality at prices competitive with other leading products.

Contact Information

  • Contact:
    WestPark Capital, Inc.
    Richard Rappaport
    CEO
    (310) 843-9300