PureSpectrum written about in Knobias Small-Cap Report! - download the article
September 11, 2006
PureSpectrum retains iCapital as investment banking firm
Publicly traded Georgia technology company to work with California based investment bank.
SAVANNAH, GA -- PureSpectrum, Inc. (PSPM.PK), a publicly traded technology company headquartered in Savannah, Ga., has engaged California investment bank iCapital Finance, Inc.
As the corporate banking firm for PureSpectrum, iCapital will provide a wide range of financial advisory services to PureSpectrum, including merger and acquisition advisement, financing options, strategic planning and financial consulting. iCapital specializes in serving small cap public companies and middle market private companies and has been instrumental in the development of several technology companies in recent years. In addition to working with public and private companies, iCapital is also a certified national Community Development Entity and represents several municipalities, including New Jersey, New Mexico and the National Conference of Black Mayors.
"Without question, working with an established firm with a solid network in the business community will be a tremendous advantage for PureSpectrum going forward," said PureSpectrum president Lee Vanatta. "We put the enterprise first in all things, and we feel like iCapital's approach fits perfectly with our corporate philosophy. It was the best choice for us in light of iCapital’s multifaceted experience on the national and international levels handling the needs of moderately sized companies like PureSpectrum."
PureSpectrum owns the rights to 16 patents and patents pending related to a technology for creating an innovative electronic ballast design. Independent tests have shown that the ballast model can be used to make lighting products exponentially more energy efficient while also producing light which more closely resembles natural sunlight.
"What we see in PureSpectrum is a company with a chance to make a big splash with a technology that has properties that could be truly beneficial as the world searches for energy conservation solutions," said iCapital Managing Director Randall Letcavage. "We understand that in order for PureSpectrum to have the impact it should have in the lighting industry, the company will be dependent upon its ability to grow revenues, market share, profits or a combination of any of these items. We will make sure the company has all the pieces in place and is attractive enough to appeal to long-term investors and strategic investors."
Certain statements contained in this news release regarding matters that are not historical facts may be forward-looking statements. Because such forward-looking statements include risks and uncertainties, actual results may differ materially from those expressed in or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, uncertainties pertaining to continued market acceptance for PureSpectrum's products and services, its ability to succeed in growing revenue, the effect of new competitors in its market, integration of acquired businesses, and other risk factors identified from time to time by PureSpectrum.
Please call (912) 961-4980 or visit www.purespectrumlighting.com for more information about PureSpectrum.
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