|By Marketwired .||
|July 2, 2014 04:14 PM EDT||
WEST DES MOINES, IOWA -- (Marketwired) -- 07/02/14 -- Spotlight Innovation, Inc. (OTCQB: STLT) is pleased to announce that it has closed an equity placement of more than $41,418,000 with nine accredited investors through its equity advisor Catwalk Capital, LLC. Pursuant to the terms of the financing the funds have been deposited in a restricted account with an intermediary whereby the funds are released to the Company according to business, market development and valuation milestones.
Cristopher Grunewald, President and CEO of Spotlight Innovation said, "We are pleased that these investors share the strategic vision of Spotlight Innovation, and their confidence and trust in us is invigorating. This financing effectively establishes a solid foundation for Spotlight Innovation as we move forward in achieving our growth milestones and profitability objectives. This is an exciting time for us, and we are grateful to Catwalk Capital for their diligence and aid in the acquisition of this capital facility. This transaction provides us with long-term capital to help us complete our growth strategy."
About Spotlight Innovation, Inc.
Spotlight Innovation, Inc. (OTCQB: STLT) specializes in identifying, acquiring and incubating intellectual property (IP) in the medical sector. The Company utilizes relationships with the nation's leading academic and institutional IP developers to locate winning IP technologies. Spotlight Innovation is developing a risk-averse portfolio of IP with potential in both market share capture and market creation. The Company provides its portfolio of IP with development funding and strategic planning expertise and intends to partner with proven sector leaders on commercialization of fully developed technologies. Additional information is available at www.spotlightinnovation.com.
About Catwalk Capital, LLC
Catwalk Capital is the equity funding advisor to Ferme Group (www.fermegroup.com). Ferme assists private and public companies, investment banks and institutional investors in their drive to create value. Ferme's advisors are versatile and have worked extensively in many industries and transaction types. Ferme's worldwide network of channel partners provides a large geographic capability.
Forward Looking Statements
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.