Dynamic Ventures Corp., a developer and marketer of construction solutions for residential and commercial buildings, today announced it has signed a $7.5 million Equity Funding Facility with Centurion Private Equity, LLC.
Dynamic said the funding will support the company’s ongoing construction projects, expand new territories, and support general corporate purposes.
Dynamic CEO Paul Kalkbrenner noted potential opportunities in the construction industry, and said Dynamic is on track to utilize its resources to achieve growth.
“We continue to see growth and opportunities in niche building segments,” Kalkbrenner stated in the press release. “We believe we have uniquely positioned ourselves to take advantage of these opportunities and that having access to capital in a timely and efficient manner would allow us to continue on the growth path that we have set for ourselves.”
Per the agreement, Centurion has committed to purchase for cash consideration, up to an aggregate of $7.5 million of Dynamic’s common stock. The arrangement is subject to certain conditions and limitations based upon the price and trading volume of Dynamic’s common stock and subject to an effective registration statement.
The funding agreement provides Dynamic with the option, at its discretion and provided that it meets certain conditions, to periodically sell Centurion shares of Dynamic’s common stock at a price based upon the market price of Dynamic’s common stock.
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