LOS ANGELES — WestPark Capital, Inc. announced the closing of a WRASPSM transaction for Asia Time Corporation (AMEX: TYM). A WRASP is a unique transaction process where a private company becomes publicly traded through a share exchange, with its common stock trading directly on the American Stock Exchange or another senior exchange. A WRASP involves a comprehensive set of interrelated transactions managed by WestPark Capital, a FINRA registered broker-dealer. Asia Time’s transaction represents the third WRASP completed by WestPark Capital.
“With our third WRASP, we have further demonstrated a new means through which profitable growth companies are able to list on a reputable exchange and raise capital, as well as promote investor and regulatory visibility, thereby supporting their business growth opportunities. As a result, we are seeing an increasing number of clients that want to undertake this process,” stated Richard Rappaport, CEO of WestPark Capital.
WestPark Capital completed its first two WRASP transactions in June and September of 2007, respectively, for China Shenghuo Pharmaceutical, Inc. (AMEX: KUN) and China Architectural Engineering, Inc. (AMEX: RCH).
WestPark Capital, Inc. was the sole underwriter for the offering. The registration statement related to these securities has been declared effective by the Securities and Exchange Commission. This news release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering is made only by prospectus. A copy of the final prospectus may be obtained from WestPark Capital, Inc., 1900 Avenue of the Stars, Suite 310, Los Angeles, CA 90067, by phone at (310) 843-9300, facsimile (310) 843-9304, or email email@example.com
WestPark Capital is a leading investment banking and securities brokerage firm serving the needs of private and public growth companies in North America and Asia. WestPark is committed to forging lasting partnerships with emerging growth companies and the investors who back them. WestPark provides customized financial solutions and a complete range of investment banking and brokerage services to corporate and individual clients. WestPark provides a comprehensive range of corporate finance services, including WRASP transactions, initial public offerings, follow-on offerings and private placements, and financial advisory services. Additional information about WestPark Capital, Inc. is available at www.wpcapital.com.
For further information, please contact:
WestPark Capital, Inc. (310) 843-9300
1900 Avenue of the Stars, Suite 310
Los Angeles, CA 90067