CARLSBAD, Calif., May 18, 2004 (PRIMEZONE) -- S3I Holdings, Inc. today announced that the Company has agreed to an equity financing commitment with Compass Capital Group, a Wall Street-based investment banking firm, to fund up to $5 million. The financing will allow the Company to implement new strategic corporate initiatives and finalize acquisitions that are designed to directly impact shareholder value.
Wayne Yamamoto, CEO of S3I Holdings Inc., commented, "With this funding, the Company intends to fulfill two primary strategic business objectives. First, we plan to infuse capital into our current operating subsidiary, Securesoft Systems Inc., for the purpose of moving forward with the development, marketing and sales of SSI's product and service line. Second, S3I Holdings anticipates pursuing additional acquisitions of small to medium mid-sized companies in areas such as software, technology, and other related industries that are well positioned for growth. While the Company will not necessarily limit its acquisitions to only businesses in these market segments, S3I Holdings does plan to initially focus its efforts on potential acquisitions in areas that it has management and operational experience.
"All of the Company's planned acquisitions will be designed to enhance shareholder value through capital appreciation and dividend payments to the Company," added Mr. Yamamoto.
Company Profile
S3I Holdings, Inc. (www.s3i.us) is a Business Development Company regulated by the Investment Company Act of 1940. Its first operating subsidiary, Securesoft Systems, Inc. (www.securesoftsystems.com) was acquired in April 2003 and is a leader in compliance and risk management software, services and Internet technologies for regulated industries. S3I Holdings is currently seeking to acquire additional synergistic companies and is focused on assembling a portfolio of investments that will provide value to its shareholders.
This release contains forward-looking statements which involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Such statements are based on currently available information which management has assessed but which is dynamic and subject to rapid change due to risks and uncertainties that affect our business, including, but not limited to, the impact of competitive products and pricing, limited visibility into future product demand, regulatory interpretation, and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission.