Eye Care International Announces Receives First Round Financing.Business Editors/Health/Medical Writers TAMPA, Fla.--(BUSINESS WIRE)--Feb. 10, 2004 Eye Care International, Inc. (EYCI EYCI Eye Care International Inc (stock symbol) ) has received its first traunch Traunch One of many influxes of cash that is part of a single round of investment. Notes: For example, you might hear: "The $6.3 million is the first traunch of an $8 million round, with the extra $1.7 million expected over the next three months. of financing via investment bank May Davis Group. The amount received is in excess of that required to break escrow escrow Instrument, such as a deed, money, or property, that constitutes evidence of obligations between two or more parties and is held by a third party. It is delivered by the third party only upon fulfillment of some condition. . "Our private placement went more quickly than we even hoped," said Clark Marcus, 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. of Eye Care International. "We have reached a level of financing that puts us ahead of our plan." Marcus continued, "With this round of private financing we will hire additional people and build out the infrastructure necessary to support our quickly expanding portfolio of new business. "In the process of our restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). , Eye Care International has dramatically reduced its short term debt by as much as 50%, as lenders have converted their debt to equity," Marcus concluded. The company is poised for even greater growth. Michael Jacobs Michael Jacob (born 1980) is an Irish sportsperson. He plays in the centre-forward position on the Wexford senior hurling team. Early life Michael Jacob was born in Oulart, County Wexford in 1980. , Managing Director of May Davis said, "Eye Care International is an exciting company. Our investor group has embraced the organization's business model and feels confident they will see substantial returns." Eye Care International Inc. owns and operates the nation's largest discount vision network, with over 14,000 provider locations nationwide. It is the only discount vision plan providing the services of ophthalmologists (MDs) who discount all their services. For more information about Eye Care International, visit www.eyecareinternational.com. |
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