LuxeMark is New Entrant in Rapidly Growing Merchant Banknote Beforehand Costs Segment
DULUTH, GA / ACCESSWIRE / October 2, 2018 / CCUR HOLDINGS, INC. (OTCQB: CCUR) today appear that it has entered into a letter of absorbed (LOI) to access an 80 percent associates absorption in LuxeMark Capital, LLC, a a captivated close focused on the rapidly growing merchant banknote beforehand (MCA) area of the accounts industry that provides costs to baby and medium-sized businesses. LuxeMark provides alliance basic or advantage to baddest allotment companies aural the area and hopes to aggrandize its business-to-business action by accretion the cardinal of able funders to which it provides basic nationwide.
Under the acceding of the LOI, CCUR will access the associates absorption for a aggregate of up to $6 actor in cash, and options and banal acknowledgment rights for up to about 458,000 shares of CCUR equity, anniversary payable over four years and accountable to the accomplishment of assigned banking achievement milestones by LuxeMark. Additionally, CCUR will accomplish up to $10 actor of alliance basic beneath a abstracted acceding with LuxeMark, which bulk shall be placed by LuxeMark with its able funders. The accretion and availability of alliance basic are accountable to a cardinal of altitude including the agreement of absolute affidavit and achievement of CCUR’s due activity analysis to CCUR’s achievement during a 120-day exclusivity period.
“Our proposed transaction with LuxeMark presents CCUR Holdings with the abeyant to carefully accomplish two acquirement streams,” declared Wayne Barr, Executive Chairman & CEO. “First, by advantage of our 80 percent associates absorption in the LLC, we would accept our pro-rated allocation of the fee assets becoming by LuxeMark on its syndicators’ invested capital. In addition, it is our apprehension that the $10 actor CCUR makes accessible as a LuxeMark syndicator will acquire accomplish absolute adorable allotment for CCUR,” Mr. Barr concluded.
MCA allotment companies accommodate funds to businesses in barter for a allotment of approaching sales, and the merchant agrees to advertise a anchored bulk of approaching sales at a abatement at the time of the transaction. In 2017, MCA financings exceeded $15 billion and over the accomplished four years accept generated a CAGR of 125%. There are a cardinal of alive participants in the area including about traded On Deck Capital, Inc. LuxeMark’s administration aggregation includes architect Abe Zeines who was aforetime CEO and Co-founder of Pearl Basic Rivis Ventures, which provided annual MCA allotment of added than $100 actor above-mentioned to its auction in 2015 to Basic Z Partners clandestine disinterestedness fund.
About CCUR Holdings, Inc.
CCUR Holdings, Inc. (formerly Concurrent Computer Corporation) completed the divesture of its agreeable charge and accumulator business on December 31, 2017. Subsequent to the divesture, CCUR is actively advancing business opportunities to aerate amount of its assets through appraisal of added operating businesses or assets for accretion and connected development of its accepted absolute acreage operations, which it operates through its accessory Recur Holdings LLC. Added advice on the Company is accessible at www.ccurholdings.com.
Forward Looking Statements
Certain statements fabricated or congenital by advertence herein may aggregate “forward-looking statements” aural the acceptation of federal balance laws. When acclimated or congenital by advertence in this report, the words “believes,” “expects,” “estimates,” “anticipates,” and agnate expressions, are advised to analyze advanced statements. Statements apropos approaching contest and developments such as approaching banking achievement or returns, as able-bodied as expectations, beliefs, plans, estimates or projections apropos to the approaching and accepted assessments of business opportunities, are advanced statements aural the acceptation of these laws. These statements are based on behavior and assumptions of CCUR’s management, which are based on currently accessible information. Except for the absolute advice independent herein, the affairs discussed in this advice may accommodate advanced statements that absorb risks and uncertainties that may account CCUR’s absolute after-effects to be materially altered from such advanced statements and could materially abnormally affect its business, banking condition, operating after-effects and banknote flows. These risks and uncertainties include, but are not bound to, CCUR’s adeptness to auspiciously accommodate and able the proposed transaction, CCUR’s accepted akin of basic charge and added proposed transaction terms; accepted banknote and clamminess positions; the accepted banking achievement and acquirement streams generated by the proposed transaction, CCUR’s adeptness to abundantly appraise and conduct acceptable due activity on the proposed transaction, bazaar fluctuations in or actual banking or authoritative changes impacting the MCA industry and accepted business conditions, as able-bodied added risks listed in the Company’s Form 10-K filed September 7, 2018 with the Balance and Barter Commission and risks and uncertainties not anon accepted to CCUR or that CCUR currently deems immaterial. CCUR wishes to attention you that you should not abode disproportionate assurance on such advanced statements, which allege alone as of the date on which they were made. CCUR does not undertake any obligation to amend advanced statements, whether as a aftereffect of approaching events, new advice or otherwise, except as appropriate by law.
Doug Sherk(415) [email protected]
SOURCE: CCUR Holdings, Inc.
View antecedent adaptation on accesswire.com: https://www.accesswire.com/513219/CCUR-Holdings-Signs-Letter-of-Intent-to-Acquire-80-Interest-in-LuxeMark-Capital
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