Aspenwood Capital Raises $3.5 Million For ID Watchdog.Funds From Two Private Placements Exceed $7 Million DENVER -- Aspenwood Capital (www.AspenwoodCapital.com), a Denver-based investment bank, announced today that it has completed a $3.5 million private placement for Identity Rehab Corporation, d/b/a ID Watchdog (www.IDwatchdog.com) of Denver, which provides identity theft detection and protection services. Aspenwood raised $3.7 million in a previous private placement for Identity Rehab last summer. "Given the growth of ID Watchdog, we were able to place this transaction with one 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. ," said Aspenwood Capital Partner Steve Ossello. "The proceeds from this financing will allow the company to continue to rapidly ramp up Ramp Up To increase a company's operations in anticipation of increased demand. Notes: A company might 'ramp up' operations if they just signed a contract creating substantially more demand for their product. See also: Demand, Economies of Scale its marketing efforts." The funds, which will primarily be used for customer acquisition, will enable ID Watchdog to further expand its subscriber-based business. The funds were raised through the sale of the company's 9% convertible preferred stock Convertible Preferred Stock Preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Also known as "convertible preferred shares". and a warrant to purchase common stock. ID Watchdog is the nation's only identity theft protection company that provides three-tiered protection for consumers. It was developed with assistance from select government agencies, U.S. Postal inspectors, state and local law enforcement officials, and several state attorneys general. Unlike its competitors, ID Watchdog resolves identity theft problems at their source. "The private placement was another success for ID Watchdog," said Justin Yurek, president of ID Watchdog. "We've worked with Aspenwood in the past and once again benefited from the firm's in-depth understanding of our company and its strong relationships with institutional investors." The securities issued in the private placement have not been registered under the Securities Act of 1933, as amended a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. . Accordingly, these securities may not be offered or sold in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , except pursuant to the effectiveness of a registration statement or an applicable exemption from the registration requirements of the Securities Act. ID Watchdog has agreed to file a registration statement covering resale resale n. selling again, particularly at retail. In many states a "resale license" or "resale number" is required so that the state can monitor the collection of sales tax on retail sales. RESALE. of the securities by the private placement investors. This press release shall not constitute an offer to sell or the solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual of an offer to buy the securities. About Aspenwood Capital Aspenwood Capital (www.AspenwoodCapital.com) of Denver, Colo., the Investment Banking Division of Green Drake drake 1. male duck. 2. loliumtemulentum. Capital Corp. (www.GreenDrakeCapital.com) (member FINRA/SIPC), specializes in providing investment banking services to small-cap Small-cap A stock with a small capitalization, meaning a total equity value of less than $500 million. small-cap 1. Of or relating to the common stock of a relatively small firm having little equity and few shares of common stock public issuers and late-stage private companies. Aspenwood Capital focuses primarily on raising capital and providing strategic advice for public companies, as well as taking private companies public through alternative public offerings. About ID Watchdog Headquartered in Denver, ID Watchdog is the only identity theft advocacy company that provides patent-pending 360-degree comprehensive detection, protection and resolution for identity theft. The solutions were developed with assistance from the U. S. Postal Inspectors, state and local law enforcement officials and several state attorneys general and have been endorsed by the Arizona Arizona (âr'əzō`nə), state in the southwestern United States. It is bordered by Utah (N), New Mexico (E), Mexico (S), and, across the Colorado R., Nevada and California (W). and Colorado Bankers Associations. Since credit reports reflect only a portion of identity theft, ID Watchdog Plus[TM], the company's most comprehensive offering, analyzes thousands of databases in 13 critical areas, including motor vehicle, medical, criminal, Social Security and national security records, among others, and often detects activity before there is any financial or personal impact to individuals. The company's products are available for purchase by consumers or businesses either individually or as an inclusive suite. For more information please visit www.IDwatchdog.com. |
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