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Article: Vertex Interactive Announces Agreement to Provide Up To $4 Million in New Financing for its Enterprise Software Division.
- Article from:
- Business Wire
- Article date:
- October 28, 2002
CopyrightCOPYRIGHT 2002 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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Business Editors
PARAMUS, N.J.--(BUSINESS WIRE)--Oct. 28, 2002
Vertex Interactive, Inc. (OTCBB:VETX), a leading provider of supply chain execution solutions, today announced that it had entered into agreements with the investment banking firm of Charles Street Securities ("CSS") of New York and London, pursuant to which CSS will underwrite, on a best efforts basis and subject to certain conditions, up to $4 million of new equity financing directly into Vertex's Enterprise Software Unit.
For the purposes of these transactions the present pre-financing valuation for the Enterprise Division is $8 million. Thus, Vertex expects to retain a ...