DEERFIELD BEACH, Fla.–(BUSINESS WIRE)–Capstone Companies, Inc. (OTC: CAPC) (“Capstone” or the “Company”), a designer, manufacturer and marketer of consumer inspired products that simplify daily living through technology, raised $1.498 million in a private equity placement of restricted common stock among five accredited investors, including four private equity funds.
Stewart Wallach, Capstone’s Chairman and CEO, commented, “As our e-commerce business model necessitates on hand inventories to meet consumer expectations of 1–2-day deliveries, I am pleased that we were able to raise the necessary funds to support this program while avoiding costly debt as a solution to our immediate funding needs.”
Wallach added, “We are fortunate to have aligned with institutional investors that understand and support our looking forward vision for our new critical product line.”
Capstone sold a total of 2,496,667 shares of its common stock in the private offering. Littlebanc Advisors, LLC, through Wilmington Capital Securities, LLC acted as the sole selling agent for the private placement.
About Capstone Companies, Inc.
Capstone Companies, Inc. is a public holding company that engages, through its wholly owned subsidiaries, Capstone Industries, Inc., Capstone Lighting Technologies, LLC, and Capstone International HK, Ltd., in the development, manufacturing and marketing of consumer products to retail channels throughout North America and certain…