2nd Quarter, 2010, WRASP Deals Pass $100 Million Mark, Nearly $140 Million in Aggregate Offerings
Second Quarter Deals Push WestPark Capital’s Innovative Public Financing Technique, the WRASP, Past $100 Million Mark, Nudging $140 Million in Aggregate Offerings
Los Angeles, Ca… An innovative financing technique coined the WRASP by its creator, Richard Rappaport, the CEO of Los Angeles-based international investment banking firm, WestPark Capital, Inc, breaks the $100 million milestone in aggregate financings using this highly specific technique with the conclusion of three deals during the 2nd quarter of 2010, pegging the company’s WRASP financing deal tally to $138,570,000.
The WRASP is a financial services industry-unique public financing formula created by Rappaport, whose company focuses on emerging growth sectors in emerging markets, that takes companies public using the WRASP process which is proven to be a fast track formula, in most cases much quicker than the traditional IPO route.
“We have great traction at this time,” says Rappaport, “We have obtained great exposure, acceptance and understanding, not only within the financial services community, but within the business community as well.” Even though the WRASP has been referred to by financial services industry executives, as well as the financial news media, as a “revolutionary financing technique,” the WRASP methodology is still largely unknown, or utilized, by U.S. companies. WestPark has taken ten companies public though the utilization of the WRASP transaction
Generally speaking, companies who seek to go public using this financing model find that the WRASP process is less costly, less time consuming, and even results in less dilution of ownership than a traditional IPO or a reverse merger. Explains Rappaport, “Fundamentally, what happens is that a company becomes publicly traded through a share exchange and then trades directly onto a senior exchange, either the NYSE Amex, or the NASDAQ, and completely bypasses the OTCBB, which is where so many companies typically languish, and often never truly meet their financial goals or expectations.”
Below is a snap-shot of one of the three deals WestPark Capital concluded in the past quarter that pushed the company past the $100 million mark, landing the firm just shy of $140 million, with its fast-track public financing mechanism.
NIVS IntelliMedia Technology Group (Amex: NIV)
In April, WestPark completed a $24 million Follow-on Firm Commitment Public Offering for NIVS IntelliMedia Technology Group (Amex: NIV), a Guandong, China-based company that offers an interactive technology that permits users to control its various electronic products such as digital audio systems, televisions and other consumer electronic products through its voice activated technology.
“Not only were we successful in bringing this company public,” says Rappaport, “but the deal went on to be very well received by the financial services media who monitor such activities.” On April 26th, the popular internet financial services website, The Motley Fool, identifies NIVS with a four star rating out of five. In an article titled, “Wall Street’s Best Unknown Stocks,” writer *Richard Dupree places NIVS at number two on his list and refers to NIVS as one of a handful of “Stocks that fly under Wall Street’s radar, yet sport top ratings from our investor intelligence database.” http://www.fool.com/investing/general/2010/04/26/wall-streets-best-unknown-stocks.aspx
*Fool contributor Rich Duprey does not have a financial position in any of the stocks mentioned in his article. You can see his holdings here. The Motley Fool has a disclosure policy.
Click here to see NIVS Deal Sheet / Transaction Overview.
About WestPark Capital
WestPark Capital, Inc., (www.wpcapital.com) specializes in taking companies public – fast. It is a full-service national and international investment bank focused on emerging growth sectors such as healthcare, software, technology, biotechnology, financial services, manufacturing, consumer products, and media and telecom industries, among other categories. Founded in 1999, with offices in key markets across the United States, as well as in China*, Hong Kong*, and Taiwan*, the firm and its founder, Richard Rappaport, are credited for having created the revolutionary “WRASP”. The “WRASP” is a process in which a company becomes publicly traded through a share exchange and trades directly onto a Senior Exchange such as the NYSE, AMEX or the NASDAQ, completely bypassing the OTCBB. The WRASP generally possesses superior liquidity, valuation and institutional coverage. This innovative approach includes potentially increased market awareness and the visibility of an IPO.
*International offices are separate and distinct and are joint ventures that are non FINRA registered offices.
WestPark Capital, Inc. Richard Rappaport, Chief Executive Officer 310- 843-9300 firstname.lastname@example.org www.wpcapital.com Member FINRA/SIPC
PR Contact: The Bamboo Agency www.TheBambooAgency.com Jeff Senft-Mustard 954-801-8263 email@example.com Disclaimer:. This news release shall not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities. WestPark Capital, Inc. and its affiliates hold substantial securities positions in the companies for which it has conducted WRASP offerings, including the companies mentioned in this news release