National Automation Services, Inc., a public holding company focused on designing, engineering, installing and maintaining automated control systems, announced earlier today that it has obtained an equity financing commitment of $5 Million from Ascendiant Capital Group, LLC, a private equity firm, and its affiliate, Ascendiant Equity Partners, LLC.
During the two-year term of the equity financing commitment, NAS may sell shares of its common stock to Ascendiant up to the total commitment amount. According to the press release, the company will determine, at its sole discretion, the timing and amount of any sales of its stock, subject to certain conditions. For more information on the equity agreement, reference further details that will be provided in an 8-K filing with the SEC.
NAS’s management team believes that the financing commitment, one of several financing strategies the company is pursuing to further its business plan, provides NAS with a flexible, low-cost alternative to other forms of debt and equity financing currently available in the market.
The Company encourages investors to review the filing for Financials, Risk Factors, and Business at http://www.sec.gov, and stay current by joining its E-News Connection email list. Investors can join by clicking the following link: http://www.nasautomation.com/ or by contacting the NAS Marketing Manager at 702-487-NASI (6274).
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