LSYN is going to be a 10 dollar stock read this :
PITTSBURGH, PA / ACCESSWIRE / January 3, 2018 / Liberated Syndication, Inc. (OTCQB: LSYN) ("Libsyn") announced today that it closed its acquisition of Internet hosting company Pair Networks, Inc. ("Pair") on December 27, 2017. Libsyn paid $13.5 million in cash and issued 1,579,613 shares of restricted common stock valued at $2.5 million to acquire 100% of Pair. The combined businesses represented approximately $23 million in annual revenue and approximately $7 million in EBITDA for 2017.
"We are very excited about the opportunities that come from combining these two great, long-standing, Pittsburgh-based companies," said Chris Spencer, Libsyn CEO. "We have tremendous confidence in Pair's leadership and employees and we intend to fuel revenue growth for the combined entities through sales and marketing investment, cross selling new and existing hosting products and streamlining network computing infrastructure."
In order to finance the transaction, Liberated Syndication borrowed $10 million under a newly established Senior Secured Credit Facility (the "Bank Facility") with First Commonwealth Bank, which also was closed on December 27, 2017. Borrowings under the Bank Facility are at variable rates which are at the borrowers' option. As of December 27, 2017, interest is set at LIBOR (London Interbank Offered Rate) plus 175 basis points, or 3.44%.
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