Omega Commercial Finance Corporation Secures $100-Million Equity Line From Private Equity Firm
(firmenpresse) - MIAMI, FL -- (Marketwire) -- 02/11/13 -- (OTCQB: OCFN), a publicly traded financial holding company, announced today that it has signed a Standby Equity Purchase Agreement for a funding equity line with . OCFN plans to prudently utilize these funds, at their discretion, to support operations for its commercial real estate financing subsidiaries, Omega Capital Street LLC, and Omega CRE Group LLC.
This equity line serves as a catalyst for OCFN's acquisition "roll-up" growth strategy by enabling the company to now aggressively lock in new acquisition targets and move current pending targets from Letter of Intents, to definitive agreements, and finally to acquisition closings such as the previously announced minority acquisition stake of VFG Securities Incorporated & VFG Advisors Incorporated.
Over the past 6 to 9 months OCFN has developed an attractive, balanced, risk-adjusted pipeline of prospective commercial real estate lending opportunities that illustrates their loan origination discipline. Moreover, the loan origination programs of OCFN's lending subsidiaries are well positioned to begin judiciously employing the equity-line proceeds towards these loan products moving forward in 2013. Jon S. Cummings IV, President and Chairman, added, "Our funding agreement with LAMBERT will be instrumental in the expansion of our subsidiaries' business operations. I am excited to have the capital support from Lambert Private Equity LLC and the endless opportunities it potentially can bring to OCFN as we move forward with our micro cap growth initiatives."
Omega Commercial Finance Corporation is a publicly traded financial services holding company with diversified subsidiaries encompassing up to $180-million in assets under management. These companies provide asset management, investment banking, and capital markets services, insurance, institutional finance, and investment advisory solutions to institutions, corporations, investment advisors, family offices, and individuals, with their principal companies operating in the commercial real estate finance capital markets sector. As a holding company, OCFN combined with its subsidiaries' management teams collectively have 150-years of expertise across these spectrums of business lines.
Andrew J. Barwicki
110 Wall Street 11 FL
New York, New York 10005
Contact: 516-662-9461
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Datum: 11.02.2013 - 08:23 Uhr
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News-ID 1195632
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