Bio-One Signs $15 Million Acquisitions Financing.Business Editors/Health & Medical Writers ORLANDO, Fla.--(BUSINESS WIRE)--Jan. 14, 2003 Bio-One Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BICO BICO Bicolor )("Bio-One" or the "Company") has signed a term sheet with Investors, a Bermuda Corporation, for a $10,000,000 Term Loan Facility and a $5,000,000 Revolving Credit Revolving Credit A line of credit where the customer pays a commitment fee and is then allowed to use the funds when they are needed. It is usually used for operating purposes, fluctuating each month depending on the customers current cash flow needs. Facility. Closing is scheduled for February 24, upon completion of the Due Diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. . Investors Corporation has offices in the U.S., United Kingdom, Hong Kong, Cayman Islands, Channel Islands, Gibraltar, Guernsey and Ireland. The funds will be used for closing on a series of acquisitions expected to generate approximately $54 million in revenues with $6 to $7 million in EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become . Armand Dauplaise, the Bio-One President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. states that "this capital and the closing on these acquisitions will facilitate the Company's American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. application which is anticipated to be submitted during the first quarter. Subsequently, senior equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. will be considered and discussed with those institutional investors who have previously and continue to express an interest in participating in our future growth." Business Summary Bio-One Corporation is an emerging growth company that is embarking on building a significant business in the nutritional supplements industry via vertical integration mergers and marketing consolidation in Florida and the Southeast. The Company's home state, Florida, ranks second only to California in nutritional supplement sales and ranks first nationally in per capita consumption. The Company's goal is threefold; 1) to uniquely serve people worldwide who desire vitality and longevity; 2) to interface a quality and value growth philosophy through vertical integration and selected marketing companies consolidation; 3) to provide an outstanding return on investment for Company shareholders. Certain statements released by Bio-One Corporation that are forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Editors and investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the Company's business prospects and performance. These include, but are not limited to, economic, competitive, governmental, technological and other risks detailed in the company's registration statements and periodic reports filed with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion