Affinity Technology Receives Funding in $1 Million Convertible Debenture Agreement.Business Editors COLUMBIA, S.C.--(BUSINESS WIRE)--Dec. 1, 2000 Affinity Technology Group, Inc. (Nasdaq: AFFI) today announced that it has closed its previously announced $1 million convertible debenture Convertible Debenture Any type of debenture that can be converted into some other security. Notes: For example, a convertible bond can be converted into stock. purchase agreement with an international institutional investor Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. . Joe Boyle, President and Chief Executive Officer of Affinity, said, "This funding of the convertible debenture agreement is an important milestone for us and we continue to evaluate and pursue alternatives to meet the short- and long-term capital needs of the Company." About Affinity Technology Group, Inc. Affinity's technology enables financial institutions to link their branches, call centers, Internet customers, and indirect agents electronically to their credit departments, providing fully automated lending - and, if necessary, connectivity to a loan officer - through every channel. For financial institutions, Affinity's solutions expedite ex·pe·dite tr.v. ex·pe·dit·ed, ex·pe·dit·ing, ex·pe·dites 1. To speed up the progress of; accelerate. 2. loan decisioning and processing and increase productivity and capacity of branch personnel, call center agents, loan officers, and indirect agents, while improving the overall customer experience. Affinity is located on the World Wide Web at www.affi.net. Forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. in this news release are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that these statements involve several risks and uncertainties that may cause actual results to differ materially from those projected. |
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