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Article: New Generation Purchases CreditRiskMonitor.com.
- Article from:
- Business Wire
- Article date:
- January 20, 1999
CopyrightCOPYRIGHT 1999 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LAKE SUCCESS, N.Y.--(BUSINESS WIRE)--Jan. 20, 1999--New Generation Foods, Inc. (OTCBB: NGNF, bid $3.50) completed today the purchase of the assets of the CreditRisk Monitor credit information service (CRM), the only real-time interactive Internet-based service (www.creditriskmonitor.com) targeted at corporate credit managers.
The purchase price was approximately $2.4 million, of which $1.3 million was paid at closing and the balance is represented by two secured promissory notes (one for approximately $100,000 and the other for $1.0 million). No payments are due under these notes until 2001.
Concurrently, New Generation completed a $3.25 million private ...