|By PR Newswire||
|March 12, 2013 09:07 PM EDT||
LONDON, March 12, 2013 /PRNewswire/ -- TCA Global Credit Master Fund and Social Reality (SCRI:OTC BB), a unique social media company, have announced they have closed on a $5,000,000 Senior secured line of credit agreement. Under the terms of the agreement, TCA Global Credit Master Fund, L.P. has committed to lend a total of $5,000,000 USD through one of the Funds senior secured lines of credit, with the initial draw set at a percentage of the note balance. Following the initial draw, the Company must meet specific monthly collateral requirements to further draw upon their line of credit provided by TCA.
Headquartered in California, Social Reality "focuses on custom application development, social cause marketing partnerships and Facebook app network media sales and sponsorships." The company serves Fortune 500 and 1000 brands and the top digital ad agencies in the world.
CEO and CO-Founder of Social Reality, Mr. Christopher Miglino states the firm is "excited to be working with TCA on the companies financing needs", and that "the financing will help us in the deployment and growth of our GroupAd and SR Ad Exchange products" Social Reality has developed a suite of Facebook and Mobile applications that are available on a software as a service basis through their GroupAd platform. Both large and small brands can utilize the platform to launch and manage their social media efforts. They also provide re targeting and media programs through their Social Reality Ad Exchange.
TCA Global Credit Master Fund, TCA, is a short duration, absolute return fund specializing in senior secured lending and advisory services to small, mainly listed companies predominately in the U.S., Canada, Western Europe and Australia. TCA's specialist business fills the underserved small-cap lending gap which exists in these leading markets.
TCA Founder, Mr. Bob Press has more than 20 years of experience in this niche small-cap lending space, and has worked with the fund's Portfolio Manager Donna Silverman since 2001. The teams unparelled level of domestic and cross-border expertise, long-standing relationships and funding innovations, reflects in the number of completed transactions.
TCA Global Credit Master Fund provides a unique offering for investors seeking absolute, uncorrelated returns in the small cap debt universe. For more information about TCA Global Credit Master Fund, visit:www.tcaglobalfund.com
For more information about Social Reality, visit: SocialReality.com
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts included in this press release are forward-looking statements. These statements relate to future events or to the Company's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Such risks, uncertainties and other factors, which could impact the Company and the forward-looking statements contained herein, are included in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
SOURCE Social Reality