Thursday, September 29, 2016 9:15:47 AM
News key highlights:
1) The NMTC program is a $65 billion federal program designed to incentivize private investment in low-income communities;
2) The NMTC are provided to financial institutions in exchange for equity investments that eligible businesses can use to subsidize project development costs. The NMTC program would allow Arcturus an equity stake upto 25% in each of the selected farms in exchange of supporting low income communities through job creation..etc.
3) Arcturus’ partnership with CBO Financial is both shareholder and capital structure friendly in the sense that the draw of capital is non-dilutive in nature; and
4) CBO has secured over $500 million in NMTCs for clients;
5) This is the first of many projects that Arcturus & CBO plan to work together on.
Link to news can be found here: http://www.prnewswire.com/news-releases/arcturus-announces-engagement-of-financial-advisor-for-vertical-farm-project-595243311.html
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