Los Angeles, CA, June 8, 2015 (GLOBE NEWSWIRE) -- Spotlight Capital Holdings Inc. (pk: SLCH) and Zion Capital Ventures announce this morning that the two companies have entered into a binding Exchange Agreement, according to the terms of which Zion Capital Ventures shall provide Spotlight with $20,000,000 (twenty million dollars) worth of fixed income investment-grade bonds, in exchange for the equivalent value contained in a promissory note that converts into common stock on an agreed upon maturity date. The exchange agreement between Spotlight and Zion Capital Ventures has been approved by both companies and the agreement was signed by authorized agents of both companies on Thursday, June 4, 2015.
This exchange will significantly strengthen Spotlight Capital Holdings, Inc. balance sheet, allowing third-party lenders greater comfort in providing the previously-announced secured financing for current and future operations.
Spotlight will keep investors informed as this transaction progresses.
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