amazing how closely this PR resembles a prior PR:
Evolution Fuels Announces Investment Banking Agreements for $15,000,000 in Acquisition Financing and $20,000,000 in a Firm Commitment Public Offering
DALLAS, TX--(Marketwired - May 13, 2013) - Evolution Fuels, Inc. (PINKSHEETS: EVFN) (the "Company"), announced today it has signed two investment banking agreements with a leading New York-based investment banking firm to assist in acquisition financing and public offering.
The investment banking firm, founded in 1925, is one of the oldest in the United States, a member of the New York Stock Exchange and a full-service broker-dealer employing over 500 people. The firm manages two Morningstar-rated funds with over 2.8 billion retail accounts, nearly 100 registered representatives and 20 investment advisors in six branch offices in U.S.A.
Under the first agreement, the Company has retained the investment banking firm as its exclusive placement agent and financial advisor in connection with acquisition financing of up to $15,000,000 in debt. The Company must meet various terms and conditions, which it believes are reasonable and attainable.
The second agreement anticipates a $20,000,000 firm commitment underwritten public offering on NASDAQ represented by the investment banking firm. The planned public offering is subject to the Company's successful auditing and acquisition of its two target business firms.
The Company's director, Michael Tan, said, "We are exceedingly pleased to establish this relationship with such a prestigious New York Stock Exchange member firm, which confirms and validates our business plan. We expect the assistance of this well established investment banker will accelerate our growth. We have launched an aggressive acquisition program, beginning due diligence on several acquisition targets. Our management believes we can satisfy the conditions in both investment banking agreements."
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