Message #8 From:
NewsBot Date: September 28, 2005 03:42:00 AM
ITPD News Intrepid Holdings Announces $25 Million Financing Commitment
HOUSTON--(BUSINESS WIRE)--Sept. 28, 2005--Intrepid Holdings, Inc., (OTCBB:ITPD) announced today a $25 million commitment for a Discretionary Drawdown Offering, (a "DDO") of its common stock from Goldbridge Capital, LLC, a Houston-based investor. This firm investment commitment will be available to the company over 36 months following the Company's registration of the transaction with the SEC. Under the terms of the agreement, the Company will have the ability to access this financial commitment at its discretion in multiple segments as funds are needed for acquisitions and growth subject to the terms of the agreement with Goldbridge Capital.
"We feel this will give us access to the equity markets in a way that will support our plans to grow our business and to accelerate our acquisition of companies that bring value to our shareholders," states Maurice Stone, Chairman and CEO of Intrepid Holdings. "It also provides additional real options to create positive growth within the Company in the coming months," he added.
Intrepid Holdings is a public holding company whose business strategies are focused on the delivery of healthcare and related services. Intrepid's present business is concentrated in mail-order pharmacy, central-fill pharmacy, and pharmacy benefit management (PBM) services. The company is actively pursuing several acquisitions in additional market sectors related to Medicare, Medicaid, and urban markets.
This press release contains various forward-looking statements and information, including management's expectations of revenues, earnings per share, operating margins and growth in certain markets that are based on management's belief as well as assumptions made by and information currently available to management. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Such statements are subject to certain risks, uncertainties and assumptions including, among other matters, changes in market conditions, availability of funding and competition for venture capital investments. Should one or more of these risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expected. For a discussion of the risks, investors are urged to refer to the company's reports filed under the Securities Exchange Act of 1934.
