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Kuhlman closes on $2.5m of new equity financing
08 Mar '06
2 min read
Tailored clothing maker Kuhlman Company Inc has closed on $2,531,250 of new equity financing through a private placement.
Bear Stearns Asset Management was the lead investor, with a $2,238,750 investment, backed by Durban Capital, L.P.'s commitment of $292,500.
Kuhlman Company Inc has issued 1.125 million new shares of equity at a price of $2.25 per share to secure the financing. The investments also carry warrants for the purchase of an additional 225,000 shares, exercisable at $2.75 per share.
Scott Kuhlman, President, said, "We are pleased to continue to attract a high caliber of investor to our business and are looking forward to demonstrating the power of our concept and our business model as we go forward. Our stores are performing well, our real-estate strategy is taking shape, our balance sheet is sufficiently strong, and we are prepared to execute at a high level in order to take advantage of our growth opportunity.”
“We continue to believe that we can create significant value for our shareholders over both the near and long-term," he added.
The company continues to make investments in both personnel and systems to conduct its new store roll-out plan and to grow its wholesale operations. It noted that, including the newly issued shares, that total shares outstanding are approx. 23.4 million.
Kuhlman Company is a specialty retailer and wholesale provider of both men's and women's apparel, offered under the Kuhlman brand through company-owned retail stores and under private labels through other large retailers.
Bear Stearns Asset Management was the lead investor, with a $2,238,750 investment, backed by Durban Capital, L.P.'s commitment of $292,500.
Kuhlman Company Inc has issued 1.125 million new shares of equity at a price of $2.25 per share to secure the financing. The investments also carry warrants for the purchase of an additional 225,000 shares, exercisable at $2.75 per share.
Scott Kuhlman, President, said, "We are pleased to continue to attract a high caliber of investor to our business and are looking forward to demonstrating the power of our concept and our business model as we go forward. Our stores are performing well, our real-estate strategy is taking shape, our balance sheet is sufficiently strong, and we are prepared to execute at a high level in order to take advantage of our growth opportunity.”
“We continue to believe that we can create significant value for our shareholders over both the near and long-term," he added.
The company continues to make investments in both personnel and systems to conduct its new store roll-out plan and to grow its wholesale operations. It noted that, including the newly issued shares, that total shares outstanding are approx. 23.4 million.
Kuhlman Company is a specialty retailer and wholesale provider of both men's and women's apparel, offered under the Kuhlman brand through company-owned retail stores and under private labels through other large retailers.
Kuhlman Company Inc
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