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Home Financials

Capital Financial Global, Inc. (OTC Pink: CFGX) Jumps 33.33% After Signing LOI to Acquire Affiliated Funding Corporation

by admin
February 25, 2019
in Financials
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Capital Financial Global OTC Pink CFGX Signs LOI Acquire Affiliated Funding Corporation News

Capital Financial Global OTC Pink CFGX Signs LOI Acquire Affiliated Funding Corporation News

Capital Financial Global, Inc. (OTC Pink: CFGX) is a specialty finance company that provides asset-backed financing and loan advisement services. Shares of the finance company jumped 33.33%, during trading on Monday, February 25, 2019. Over the past month, Capital Financial Global has seen average daily volume of 27.12 million shares. However, volume of 66.68 million shares or dollar volume of $26,672, exchanged hands during trading on Monday, February 25, 2019.

Shares of capital Financial Global rallied on Monday, after the company announced that it has signed a letter of intent (LOI) with Affiliated Funding Corporation (AFC), to acquire AFC’s outstanding stock. AFC is an invoice factoring and commercial finance company. Under the terms of LOI agreement, the acquisition will be financed by restricted preferred stock and new debt. Here is the full press release detailing of the potential acquisition:

Capital Financial Global, Inc. Press Release:

Salt Lake City, UT —

Capital Financial Global, Inc. (OTC Pink: CFGX), announced today that it has executed a letter of intent to acquire all of the outstanding stock of Affiliated Funding Corporation (“AFC”), an invoice factoring and commercial finance business.

The result of the transaction will be that AFC will merge with and into CFGX, and CFGX will be the surviving entity on the closing of the Merger. The closing of the Merger is subject to the execution of a final Agreement and Plan of Merger, and the satisfaction of certain conditions, including approval by all of the AFC Stockholders.

“This merger comes with an existing credit facility to fund loans with, software and infrastructure to handle growth, and two seasoned professionals to join CFGX and execute our combined business objectives,” said Paul Edward Norat, CEO of Capital Financial Global. “AFCs management team have been in the industry since 1993, and we’ll get the benefit of more than 15 years of AFCs profitable history, along with their existing client book and revenue stream. I couldn’t be more pleased with the forward momentum that this will give us.

After engaging in several rounds of informal discussions, we feel that joining forces with CFGX will enable us to accomplish much more over the long-term, said Ronald N. Hyatt, CEO of Affiliated Funding Corporation. This will be a true case of synergistic alignment that will make us both much better together than we could have been apart. We cant wait to close the merger and get to work as part of CFGXs management team.

The letter of intent calls for the purchase price to be paid in the form of a combination of restricted preferred stock and new debt.

It is anticipated that commercial finance, including invoice factoring, will form an informal business segment that will supplement CFGXs existing real estate and life settlement backed funding pursuits.

The Company plans to release an updated plan of operations in the weeks to come. Disclosures can be found on the Company’s website and its online disclosure portal at:

Home

https://www.otcmarkets.com/stock/CFGX/disclosure

About Capital Financial Global, Inc.

Capital Financial Global, Inc. (CFGX) is a specialty finance company that offers asset-backed financing and loan advisory services.

Our Market Positioning & Differentiation

Unlike traditional banking models, CFGX offers organizations needed liquidity by using an asset-backed approach rather than a traditional credit approach to originating new loans, buying and selling existing loans, and converting distressed collateral into cash or trade-able form.

Our Revenue Model

We seek revenue from loan fees, interest rate spreads on loans and investments we hold, and margins on loans and investments we sell in whole or in part to institutional investors, hedge funds, or other secondary market participants. We also seek revenue by charging loan servicing fees, and fees for other finance related consulting engagements.

Forward-looking statements:

Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as “may,” “will,” “should,” “could,” “expects,” “plans,” “intends,” “anticipates,” “believes,” “estimates,” “predicts,” “forecasts,” “potential,” or “continue,” or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.

Tags: acquisitionasset-backedcapital financial globalCFGXcommon stockemerging growthfinancefinancialsfundinginvestinginvestmentloan servicesloansMergermicrocap stocksnewsotc marketsOTC Pinkotc stockspublic companysalesservicessmall cap companiessmall cap stockssmall capsspecialty financeSpotlight GrowthSpotlight Growth Stocksstock marketstockstrading
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