RB Capital Partners, Inc. Makes Strategic Investment in CAVR (LiveToBeHappy, Inc.)
9:00 AM ET 4/27/22 | GlobeNewswire
RB Capital Partners, Inc. Makes Strategic Investment in CAVR (LiveToBeHappy, Inc.)
CHARLOTTE, N.C., April 27, 2022 (GLOBE NEWSWIRE) -- LiveToBeHappy, Inc. (OTC: CAVR) ("LTBH" or the "Company"), today announced it has closed on the first tranche of funding from RB Capital Partners for its ambitious goals to restructure the balance sheet, reduce the float of outstanding unrestricted common stock, complete diligence on two pending acquisitions and provide working capital to grow and build on the lifestyle brands it acquired in 2021.
Kevin Vincent Cox, Chief Executive Officer of LTBH commented, "I have had the chance to work with several financial sponsors over the last seven years, and while their extensive diligence on the company was similar, their focus on human capital was refreshing. Deborah Braun expressed interest in the vision we have for building lives, not just places to live and Brett Rosen believes we have the right people at the right time to bring this vision to reality. Their leadership of RB Capital and success investing in growing companies made our decision to work with them easy. With a long-term focus and eye towards building shareholder value for our current shareholders, we worked together to create a non-toxic investment structure eliminating any negative impact on the unrestricted float. We have real companies, real growth prospects, real leaders, and now real financial sponsors and real working capital. We are truly making real progress!"
The Company also reaffirms its 2022 revenue forecast of at least doubling its 2021 revenue to $25 million.
Grant Edwards, Chief Financial Officer of LTBH stated, "In the past few months, we have made significant progress on integrating our multiple acquisitions, reducing overhead expenses, and continue to push forward with the 2021 financial audit."
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